Rapper Jay Z is not happy and means business. He is going through procedures to sue Highland Capital Management regarding a 2007 loan for a New York City hotel.
Jay Z claims that when the value of his New York property fell he tried to return the loan back to the company, however Highland Capital Management did not want to know. Jay Z is arguing that the company was totally unresponsive and their lack of cooperation caused him huge losses of $3.7 million.
When asked about Jay Z’s lawsuit claim, Highland Capital Management said that his claim is “meritless” and the company will defend themselves against Jay Z vigorously.
Words by Melissa Lewars