Jay-Z News: Jay-Z Sues Over New York Hotel Loan

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Jay-Z is suing investment firm Highland Capital Management for $3.7m over a 2007 loan to help him build a hotel in Manhattan.The rapper says that when the value of the land he had bought fell, he tried to give it back to Highland to avoid repossession.Jay-Z says the company dragged its heels costing him millions in interest. Highland said it would defend itself against the "meritless" claims, saying the loan remained in default. The new building was to have been called the J Hotel. Jay-Z also claims that Highland improperly diverted funds from a reserve account he had set up to cover...