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Jay Z always said The Notorious B.I.G. had the perfect prophecy and it's "mo money, mo problems" once again for 2014.
This time it is his association with the NBA that is putting his bank account into jeopardy.
It is being reporting that a disgruntled doctor is suing Hip-Hop's favorite enterpreneur, the NBA and Brooklyn Nets minority owner and developer Bruce Ratner for allegedly stealing the "Brooklyn Nets" name idea from him.
Despite the Nets being a new franchise, Dr. Francois de Cassagnol says he registered the name more than a decade ago. The total amount of damages? $600M. Via Radar Online:
The Plaintiff, Dr. Francois de Cassagnol, filed a pro se complaint with the Eastern District of the State of New York on December 9, 2013, asking for a juried trial over the matter — and $600 million in damages, at least.
Indeed, documents submitted as evidence show that de Cassagnol filed applications in 2012 for “The Brooklyn Nets Entertainment Logo,” which was first used in the State of Louisiana back in 2003.
He even claims that before the team moved to Brooklyn, he spoke with officials at the New Jersey Nets organization and the NBA who assured him that the team would not use the term “Brooklyn Nets,” but would most likely opt for “New York Nets.” Unfortunately, he claims, “It was pure mismanagement of the facts.”
Shawn Carter is doing quite well for himself between the music, a HBO show in development and his current tour but his estimated net worth is a tad bit shy of Dr. Cassagnol's asking price by $100M.
If the allegations turn out to be true, there are going to be some hefty settlements involved. Hit the flip to see the court documents of the case.