Hov was all smiles this afternoon as he exited a New York City Court room after scoring a major win over a $67 million dollar lawsuit against him upon claims in breach of contract for a cologne endorsement deal!
According to Billboard the Parlux Fragrance company issued the suit against Jay-Z claiming that he did not properly promote the fragrance within a proposed collaboration deal. However the music mogul responded by countersuing for $6 million in royalties.
“A Manhattan jury on Wednesday (Nov. 10) cleared Jay-Z in a lawsuit that claimed he breached an endorsement deal for a “Gold Jay-Z” cologne brand by failing to properly promote it, allowing the superstar to avoid $67 million in requested damages.”
“You failed to prove your case, they failed to prove their case,” said Justice Andrew Borrok to the attorney for Parlux after the verdict was read. “You’re excused.”
Reports read: Parlux accused Jay-Z and his S. Carter Enterprises of failing to promote the fragrance, breaching the terms of their business contract and costing the company millions. The lawsuit said he refused to appear for events like Good Morning America and then refused to approve later iterations needed to keep the brand relevant.
Jay-Z denied the accusations, saying he fulfilled his obligations under the agreement despite numerous missteps from Parlux that threatened to damage his personal brand. He countersued, saying he was still owed millions in royalties.
A jury trial kicked off on Oct. 18, featuring two days of heated testimony from the star himself. Jay-Z repeatedly sparred with Parlux’s attorney, calling him out for using “lawyer tricks” and even threatening to file a new lawsuit.
Sources have confirmed that both Jay-Z and Parlux had been battling it out for the last six year. It is expected that the company will file an appeal in highlighting allegations of an unfair ruling.