50 Cent ordered to pay $16 million over failed headphones deal
Rapper 50 Cent has been ordered to hand over $16 million to bosses at Sleek Audio over a failed deal to launch his own headphone line.
The In Da Club hitmaker, real name Curtis Jackson, partnered with company executives in 2011 for his own Sleek by 50 line, but the collection never materialised and he filed suit the following year (12) over allegations they did not refund him his initial investment after the project fell through.
He then went on to launch an earphones line with rival firm SMS
Audio, but the announcement did not sit well with Sleek chiefs, who
went on to accuse the rapper of stealing the designs of the
over-the-ear products they had been developing together for his SMS
line.
The two parties entered arbitration talks, and now it's been
revealed that a judge at the District Court in Miami, Florida has
affirmed an award in Sleek Audio's favor, demanding 50 Cent pay
them $11.7 million in damages, in addition to almost $4.5 million
in legal fees.