50 Cent was recently hit with a massive lawsuit by Sleek audio claiming 50 stole their company’s product design and client information that was confidential. The verdict is in and 50 has lost this fight, which means he had to pay Sleek over $16 million in damages and lawyer fees.
According to reports, a circuit judge in Palm Beach County decided that 50 Cent did use Sleek’s intellectual property for him own SMS Audio headphones.
“This week Palm Beach County Circuit Judge Peter Blanc agreed with the arbitrator that 50 used Sleek’s intellectual property for his own SMS Audio headphones line. Blanc stated in a 15-page ruling that Fiddy nor his lawyers provided sufficient information that would require him to overturn the arbitrator’s decision.
Even with all his different business ventures including the hit show Power and the docuseries Dream School, 50’s financial year overall has equaled about half the $16 million debt he owes to Sleek. According to Forbes, the G-Unit leader made around $8 million over the last 12 months.” (AllHipHop)