50 Cent is suing his previous lawyers and is seeking $75 million in damages, according to Business Insider.
This past Tuesday (October 6), Fif’ filed a lawsuit against Garvey Schubert Barer in the Connecticut bankruptcy court, claiming, per the aforementioned publication, that “the law firm did a terrible job representing him while he was dealing with the legal fallout from a failed venture with a company called Sleek Audio.”
In light of the colossal success of Dr. Dre’s Beats by Dre headphones, 50 Cent began working with Sleek Audio in 2010 to launch his own brand of headphones called Sleek by 50.
The partnership didn’t go as either of them had planned, and Sleek failed to meet its launch deadline, reports 50’s complaint. In light of such, 50 founded SMS Audio, his own company where he planned to unveil the headphones himself. Reportedly, 50’s lawyers at Garvey Schubert Barer ensured the rapper that he wasn’t violating Sleek’s intellectual property rights. However, Sleek went on to win roughly $16 million, after winning a case where they claimed that the G-Unit frontman “misappropriated its trade secrets while marketing his own headphones.”
Via his complaint, 50 says:
“Among GSB’s numerous failures was its inexplicable decision not to call technical and damages experts to rebut expert testimony offered by Sleek — failures relied upon by the arbitrator in crediting Sleek’s experts and entering an eight-figure award in Sleek’s favor.”
In response to 50 Cent’s lawsuit, Garvey Schubert Barer issued the following statement to Business Insider:
“We understand that Mr. Jackson is disappointed in the outcome of Sleek Audio’s arbitration against him. However, Mr. Jackson’s complaint against GSB omits a number of relevant facts and misstates a number of others, and we will respond to the allegations in accordance with the court’s rules. Our attorneys properly counseled Mr. Jackson and his sophisticated team of financial and operational advisors about the transactions and the arbitrations with Sleek. Unfortunately, the arbitrator in the Sleek case found Mr. Jackson responsible for his actions and the actions of those who performed services for him or his companies. We look forward to demonstrating that our attorneys handled the Sleek matters appropriately in all aspects.”
Going Broke? 50 Cent Is Suing His Former Lawyers For $75 Million was originally published on theurbandaily.com