Omarion addressed rumors of him being dropped from Young Money yesterday. He denies being dropped from Lil Wayne’s label or having anything to do with leaking a song that surfaced with him and his former label boss. He states that he asked to be let go from the label a mere two months after signing to Young Money. Signer’s remorse?

“I have a lot of respect and admiration for the genius of Lil ‘Wayne and the entire Young Money family,” Omarion explained in a statement. “I asked to be released from the label to pursue other opportunities that were recently presented to me. Because of our relationship, Lil’ Wayne had no issue with us ending our business relationship and released me from the label. Lil’ Wayne and I have nothing but love for each other, there is noBeef. I also wanted to make it clear that my company nor did I, leak the song, “I Get It In” and I want to dispel any rumors that have surfaced. I appreciate my relationship with Young Money/ Cash Money and look forward to doing business in the future. There will be a major announcement regarding my career and my new album, “Ollusion” coming next week. Stay tuned…”

What happened:

Two months after being signed to Young Money Entertainment, Omarion has been dropped from the giant recording company. Spilling the beans about the matter is the label’s president Mack Maine on his Twitter which reveals that Omarion is fired because he has allegedly leaked his duet song with Lil Wayne.

“ATTN: Omarion is no longer Young Money … the song they leaked ft. Wayne is not official .. good luck 2 him in his future,” so Mack wrote. Shortly after that, one of Young Money’s artists Jae Millz re-tweeted Mack’s short message, apparently trying to emphasize that the news is not a rumor.