Megan Thee Stallion and 1501 Entertainment have reached a settlement in a lawsuit that Megan filed against the label, alleging she was given an unfair contract.
On Thursday (October 19), 1501 Entertainment released an official announcement on Instagram, which reads:
“Megan Thee Stallion and 1501 Certified Entertainment are pleased to announce that they have mutually reached a confidential settlement to resolve their legal differences,” the statement reads below. “As part of the arrangement, both parties have agreed to amicably part ways. Both Megan and 1501 are pleased to put this matter behind them and move forward with the next chapter of their respective businesses.”
Carl Crawford, the label’s president, added that he and 1501 “wish Megan the very best in her life and career.”