Wiz Khalifa has allegedly been sued for $2 million

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. 

Burglar wakes Summit couple

COUPLE woken in early hours when they saw a man leave their bedroom.

Car destroyed after it was left on roadside engulfed in fire

CAR FIRE: Firefighters from Sawtell were called to a burning Ford Falcon left on the side of Hulberts Rd, Sawtell on Sunday, February 18, 2018.

WATCH: Firefighters tackle car blaze late last night

Rubbish truck's load catches alight

A J.R. Richards and Sons rubbish truck container caught alight on the Pacific Highway.

Fire in skip bin causes traffic hold ups

Local Partners

Elsa Pataky turns snake wrangler

CHRIS Hemsworth’s wife Elsa Pataky proved she is capable of dealing with Australia’s wildlife when she confronted a snake inside the couple’s Byron Bay home.

Jilted MAFS spouses break silence

MAFS contestants Tracey and Dean break their silence.

Tracey and Ryan break silence after affair is exposed.

Coffs sisters battle it out on My Kitchen Rules

Sisters Georgie, 25, and Alicia, 30 from Coffs Harbour will compete in tonight's episode of My Kitchen Rules

Local sisters bring 'modern take' on Asian cuisine to national TV.

Kate Middleton’s BAFTAs dress slammed

Stars don black in again to show solidarity with the #MeToo and Time's up campaigns...

Date set for Gold Coast Logies

Samuel Johnson with the Best Actor award at the 2018 Logies. Picture: AAP Image/Tracey Nearmy

Nine has finally announced the date for 2018 awards.

Kylie reveals ‘nervous breakdown’ over split

Kylie Minogue and Joshua Sasse split in February last year causing Minogue a ‘nervous breakdown’. Picture: Mark Milan/GC Images

'My physical system was compromised. I think it’s called a nervous breakdown'

I’m a Celeb outrage: ‘You’ve hit rock bottom’

David and Lisa Oldfield pose for a portrait at their home in Belrose.

VIEWERS vent their anger and disappointment at the latest intruders.