EXCLUSIVE: Akon’s Ex-Business Partner Devyn Stephens Drops $150 Mill Lawsuit
The $150 million lawsuit filed by Akon’s former business partner has been dropped, with the two reaching a deal to drop the massive battle. According to docs, Akon and Devyn Stephens agreed to dismiss the $150 million lawsuit filed. The deal will dismiss all claims and bring an end to the year long case.
Last year, Akon was sued by Stephens over alleged unpaid fees. The music executive – who helped launch Akon’s career and Konvict Music – claimed in the lawsuit he was to be paid 40% commission on all Akon’s project since 2006.
He claimed the deal Akon signed gave him a cut of all music and touring sales along with music royalties.
The suit claimed Stephens and the musician did have a dispute over the contract terms, but settled the beef in 2015. However, Stephens said he hadn’t been compensated by Akon. He went to court demanding the $150 million lawsuit be dismissed.
He admitted entering into an agreement with Stephens in 2006, but claimed it has been amended many times since.
Akon argued his business partner waited too long to file the suit and his claims were barred by the statue of limitations. Further, he believed any alleged injuries to Stephens were caused by third parties not him.
He said Stephens is not entitled to any commissions due to the agreement terminating or expiring. He demanded the entire case be thrown out.