UPDATE:
Too $hort issued a formal press release regarding the allegations that he raped a female associate. The statement reads in its entirety:

Today, I read that I am being investigated for allegedly committing sexual assault. The allegations against me are completely false. Let me be clear, I have NEVER had nonconsensual sex with anyone, ever. I have directed my lawyers to vigorously combat these ridiculous claims. I have not been contacted by the LAPD about this matter and doubt I ever will be. If I am, I will direct my lawyers to fully cooperate and turn over 100’s of text messages and other evidence that will prove this woman is falsely accusing me. Thanks for your support."

Original Story:

Too $hort is denying allegations that he raped his female protege last year.

As we previously reported, the rap veteran is being accused of raping a woman who reportedly worked on his music projects at his Los Angeles home on Nov. 1. The alleged victim went to police one month after and told authorities that she was a virgin and that her provocative video don’t imply consent. Cops are currently investigating the woman’s claims.

On Friday (March 3), TMZ caught up with $hort in Los Angeles at Catch restaurant and denied the allegations. When the cameraman asked if the alleged victim was “full of s---,” he responded, “100 percent,” adding, “I would never ever” before walking inside the establishment.

Insiders close to $hort have reportedly told TMZ that the rapper never had any sexual contact with the alleged victim. Apparently, the "Blow the Whistle" artist dropped her from his label and then she became disgruntled and made up the allegations as a form of extortion.

To watch Too $hort respond to the rape allegations, click here.