The 28-year-old 'Black and Yellow' rapper is rumoured to be embroiled in a lawsuit with Rostrum Records, which was founded by Benjamin Grinberg in 2003, who are demanding 15 per cent of Wiz's music royalties gained from tours, music sales and merchandise.
Speaking to Billboard website about the case between the father of one - who has three-year-old son Sebastian Taylor Thomaz with his ex-wife Amber Rose- Benjamin said: "Thirteen years ago, we started Rostrum Records as a label that would support and nurture the artists we believe in.
"We are very grateful that Rostrum has been able to achieve that goal and provide a strong, family atmosphere where meaningful relationships with the artists is our top priority.
"To give everything you have to an artist and then be on the receiving end of a fabricated lawsuit is deeply disappointing. What was alleged is, in fact, the complete opposite of our actions and the antithesis of what Rostrum Records and I stand for.
"Rostrum looks forward to quickly addressing these baseless claims so we can continue to focus our energies on our artists' success."
This news comes after Wiz - who was signed to the label in 2005, two years after it launched - allegedly sued the company last month for mismanagement and for agreeing on deals for their own personal gain, which saw the musician supposedly acquire one million dollars in damages.
And it is rumoured Wiz has since attempted "to evade paying millions of dollars" he has owed the business from their 11 year partnership.
Meanwhile, it has been reported Rostrum Records will seek to take their claim against Wiz to a hearing in a Los Angeles court on August 1, 2016.
However, the 'See you Again' hitmaker has not commented on the matter.