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The music industry was turned on its head this week when it was revealed that Usher is suing longtime friend and business manager, Bryan-Michael Cox, among others, for allegedly failing to repay a $1.7 million loan. The Grammy-winner provided the funding for an Atlanta restaurant venture that never got off the ground.
Bryan Michael Cox Sounds Off Amid Usher Lawsuit
After the lawsuit was filed, Cox spoke out on social media. Proclaiming his innocence. He also noted that this is a valuable lesson to watch who you do business with.
“I’ve learned a lot recently about being careful with who you choose to invest in a business with. No matter how small the investment,” Cox wrote in a November 19 Instagram post.
“I’m currently in the middle of a failed deal that I didn’t orchestrate, and while the situation has been disappointing, I know my name will be cleared by both sides. It’s just unfortunate that this clarity didn’t come sooner.”
Usher’s filing claims the project was a failure. As the restaurants never opened. And after the ventures failed, the singer was not fully recompensated, leaving roughly $700,000 in limbo. Usher alleges that the funds were used for other purposes. And now he is seeking $4.9 million in damages for claims including fraud and breach of contract.
However, Cox claims that he is also a victim in the entire debacle. Noting that he is just a “passive minority shareholder” with the company that executed the deal. And he has “no involvement” with the legal process. He also claims that he and Usher’s relationship is “fully intact.”
“My legal team has also advised me of a lawsuit involving a company where I am only a passive minority shareholder,” the post adds. “I was not a participant in that business transaction and have no involvement in the ongoing legal process. While I’m unable to share more details right now, I want to make one thing absolutely clear: my 27-year friendship with [Usher] remains fully intact.
