Here's what the email reads:

Harlem lyricist Azealia Banks is the latest casualty of a major label deal cut short. 

Interscope Records, the Universal Music Group label founded by Jimmy Iovine is reportedly not picking up the much-buzzed-about the 21-year-old rapper's option for future recordings, says a source close to the situation. When approached today about Banks' current debut album situation, the label insider simply stated, "Azealia Banks will no longer be releasing her LP under Interscope." 

Broke with Expensive Taste, was scheduled to be released in February so perhaps this clarifies the lack of promotion and official releases for a debut album that was supposed to drop within weeks.

Banks signed a deal with Interscope Records in the beginning of 2012, after the music video for her house hit "212" went viral online in previous months. She also released an EP in May through Interscope and other minor releases that failed to significantly impact the Billboard charts. The rapper who once again found herself in the middle of a Twitter beef, this time with fellow up-and-coming emcee Angel Haze, posted a diss track online entitled "No Problems" today.  

Earlier this week, the rapper had offered yet another free song entitled "BBD" on her Soundcloud account. Neither her record company spokesman or representatives have yet confirmed the news.

Wow, and speaking of Angel Haze, check out Banks diss track below: