The Canadian singer and rapper signed an exclusive recording deal with Aspire Music in 2008, the Manhattan Supreme Court lawsuit states, according to a Page Six report.

In 2009, Aspire then entered into a second agreement with Cash Money Records to "receive one-third of profits" from Drake's licensing and songwriting deals.

However, Drake's lawyers allege in the lawsuit that Cash Money Records has not been paying Aspire its share and has "refused" to provide full accounting details.

Representatives for Cash Money Records have not yet responded to the allegations. The American record label was founded by Bryan 'Birdman' Williams and his brother Ronald 'Slim' Williams in 1991. In addition to Drake, the label has been a home to a roster of prominent hip hop artists that include Nicki Minaj and Lil Wayne.

The lawsuit comes off the back of a busy year for Drake, who released his fourth studio album, Views, in April (16). The record, which featured singles Hotline Bling and One Dance, has sold 1.61 million recognised copies as of January (17) and a total of 4.14 million album-equivalent units in the U.S.