Young Money Sued By Teen Group -- You Can't Just Dump Us ... PAY UP

Young Money doesn't pay young money -- at least according to teen boy rap group W3 The Future, who claims the record label unceremoniously dumped them without making good on their contract.

The group's production company Grassroots Productions sued Young Money Entertainment and Cash Money Records, claiming it signed a record deal last May in which Cash Money promised $600,000 to cover both the group's advance ... as well as the recording budget for their first album.

Grassroots claims YME and CMR paid the initial recording fees but ultimately failed to pay the bulk of the $600,000 ... even after W3 The Future delivered their album months later as promised.