UPDATE: Blackstreet's Chauncey Disses Riley, Sisqo On Wax

Blackstreet member Chauncey Hannibal has filed a $2 million lawsuit against R&B luminary and fellow Blackstreet founder Teddy Riley, charging Riley with misappropriation of funds. In response, Riley has filed a countersuit of his own.

Hannibal claims he never received royalties, nor was he or the other members of Blackstreet properly taken care of after the demise of Blackstreet's label deal with Interscope Records, which released the group's album "Finally" early last year (see "Blackstreet Rep Denies Breakup Rumors").

As if that weren't enough, Hannibal has also lyrically attacked R&B colleague Sisqo. Chauncey told MTV News on Wednesday that there had been some animosity brewing between the two with regard to some personal issues.

In response, Riley has filed a countersuit charging Hannibal with defamation of character and slander. Riley, who claims he has done nothing but good business with Hannibal,

is currently in talks with Sisqo about filing a dual suit against the singer.

At press time, Sisqo was not available for comment.