Jay Z Sues Tidal for Lying to Get More Cash in Sale of Company
Jay Z SuesReasonable DoubtTidal Lied to Get More Cash
3/31/2016 2:44 PM PT
Jay Z is suing the former owners and execs of Tidal for $15 million claiming they grossly exaggerated their subscribers while luring him in for the purchase.
According to reports, Jay Z was told the streaming service had 540k subscribers when he bought his stake for $56 million, but Jay now believes it was much lower. Jay Z's lawyers said subscriber numbers were a factor in setting the price.
Tidal just celebrated hitting 3 million subscribers -- good numbers now, but Jay Z's obviously concerned about dough he forked out last year.