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Bryan-Michael Cox is speaking out after his longtime friend and collaborator, Usher, filed a lawsuit against him over a failed business venture.
The Grammy Award-winning singer filed a lawsuit against Cox on November 14. According to Complex, Usher said Cox came to him about a plan to open a new restaurant and lounge called Homage ATL in Atlanta. The singer claimed he originally didn't want to invest in the restaurant, but ultimately decided to loan $1.7 million to Cox. Usher wired the money in January, but noticed that the property for the venue still hadn't been purchased.
Usher asked Cox and his business partners, Alcide Honoré, Keith Thomas, and Charles Hughes, to repay the loan. He received a $1 million payment back in August, but the remaining $700,000 had not been sent. Usher alleged Honoré told him that repaying the money was “not that easy” because some of it had already been used for "other purposes." Usher said he still hasn't been told how the money was spent. Soon after the news about the lawsuit broke, Cox issued a statement and reassured fans that his decades-long friendship with Usher is "still intact."
"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," he wrote. "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."
"My legal team has also advised me of a lawsuit involving a company where I am only a passive minority shareholder," he continued. "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."
Usher is looking for $4.9 million in damages, which amounts to $700,000 for each of the claims in the lawsuit.