News: Jay Z Dragged Into $600 Million Mess, Young Hov's Conspiracy Exposed?
Thursday, Jan 23, 2014 9:43PM
Rap mogul Jay Z has reportedly been named as a defendant in an explosive $600 million lawsuit filed against him, the NBA and more over professional basketball team the Brooklyn Nets' brand.
According to reports, legal action against Hov and others was taken last month.
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. According to court documents obtained by Radar, de Cassagnol claims that the NBA, Jay Z, and developer Bruce Ratner "fraudulently conspired" to use "loopholes" in the U.S. Patent Office so that they could use a term he says he registered more than ten years ago. (RadarOnline)
The plaintiff also claimed the NBA assured him "Brooklyn Nets" would not be used.
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." In 2012, the team announced they would go by the name "Brooklyn Nets," and ever since, de Cassagnol has been enmeshed in a legal struggle trying to get what he says is his due. (RadarOnline)
Young Hov issued an official statement on his Life + Times website to break the news of his departure from the Nets last year.
"Being a member of the Nets organization surpassed some of my greatest ambitions. It was never about an investment; it was about the NETS and Brooklyn. My job as an owner is over but as a fan it has just begun. I'm a Brooklyn Net forever. It's been an honor to work with Mikhail Prokhorov, Dmitry Razumov, Christophe Charlier, ONEXIM Sports and Entertainment, Brett Yormark and all the wonderful people involved in making the Nets first class. My sincerest thanks goes to Bruce Ratner, who first introduced the idea of moving the Nets to Brooklyn. A thank you and deepest appreciation goes to the fans. You are the lifeblood of any team." (Life + Times)
The rap mogul also confirmed NBA restrictions forced him to part ways with the team.
"The Nets have made their mark on the NBA and as they enter a new era, Roc Nation does as well; as we embark on Roc Nation Sports. Our newest endeavor is committed to building the brands of professional athletes as we have done for some of today's top music artists. For Roc Nation Sports to function at its full potential, NBA rules stipulate that I relinquish my ownership in the Brooklyn Nets. It was a tough decision but as I stated earlier, it's not about ownership. Congratulations to The Nets on a great season and making the playoffs! I will always be a Brooklyn Net." (Life + Times)
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