CHICAGO URBAN DAILY
CHICAGO (CHICAGO URBAN DAILY)— Chance the Rapper just won another round against the man who once ran his business.
A Cook County judge ruled Tuesday that former manager Pat Corcoran breached his fiduciary duty to Chance in the rapper’s merchandise business — and the price of that breach could run up to $1.5 million in forfeited fees.
Judge James E. Hanlon Jr. found after a bench trial that Corcoran, through his company Pat the Manager LLC, put his own pockets first. The judge ordered Corcoran to forfeit his 15% management cut on merch for the covered period and hand over undisclosed commissions from vendors — money Chance’s team calls “kickbacks,” estimating up to $1.5 million.
The court also found breaches of the duty of loyalty and the duty of candor, and ordered Corcoran to transfer ChanceRaps.com to Chance within 14 days — the judge found Corcoran registered the domain in his own name back in 2013. Hanlon questioned Corcoran’s credibility, saying he “changed with the audience” and had “a habit of saying whatever the moment requires.”
But Chance didn’t get everything he asked for. The judge denied punitive damages and declined the full $10 million Chance sought, crediting Corcoran’s “years of valuable work.”
It follows a March jury verdict that threw out Corcoran’s own $3 million lawsuit against Chance, finding Corcoran had breached their contract.
“I’m grateful to finally close this chapter of my life and can’t wait to eventually tell my side of the story,” Chance said. “I’m thankful to the courts and, more importantly, to God for remaining faithful.”
Stay tuned to Chicago Urban Daily for more on Chicago’s own.
Reported by Chicago Urban Daily News. Visit chicagourbandailynews.com for updates.
