- View Comments
- Share with Shortlink:
(AllHipHop News) Rapper 50 Cent is making headlines for the second day in a row, in relation to a lawsuit and his businesses.
According to the Tampa Bay Business Journal, 50 Cent is suing a Bradenton, Florida audio company Sleek Audio, that specializes in headphones.
According to the reports, Curtis H. Jackson III, has filed a Manatee County lawsuit against the company, seeking repayment of $261,000 owed by Sleek Audio.
Sleek Audio is combatting the suit and say the dispute should have gone to mediation before a lawsuit was filed, alleging the rapper cut the company out of the relationship, to focus on a new line of headphones.
50 Cent contends that his G-Unit LLC, and Sleek Audio agreed in early 2011 for some marketing of the “Sleek by 50” line of wireless, over-the-ear headphones, but in of May 2011, Sleek Audio and 50 Cent announced they had split.
50 says that in the January 9 lawsuit, Sleek Audio signed a promissory note for $285,000, which was to be repaid with interest on or before July 31, 2011.
Sleek Audio also had the option to pay 50 when they earned more than $750,000 through private offerings of debt or equity in the company.
50 cent says he was not repaid and the dispute went to arbitration.
Court records show he received an arbitration award for money owed, and he is now asking the court to confirm the award.
Lawyers for both sides were not immediately available for comment.
Kanye West New Album Art is…Interesting
Akon Ordered to Pay $5k Monthly Child Support
Lil Mouse Accused Of Threatening To Kill Third Grader, Slapped With Assault Charges
Busta Rhymes Possible Collabs With Nicki Minaj And Drake
Hip-Hop Rumors: Beyonce And Kanye Are PISSED!
Kendrick, Chris Brown, Tamar Braxton & More: The BET Awards Press Conference Pics
Master P “Woke Up A Millionaire”
Hip-Hop Rumors: WOW! Is YMCMB Trying To Send Mannie Fresh A Strong Message?
Hip-Hop Rumors: 50 Cent’s Cousin: “You Gonna Get Me Killed!”
Next 48 Hours With French Montana Coming Soon
Hip-Hop Rumors: Somebody Thinks Tim Dog Faked His Death!
Ludacris Talks Movies & Music
Kanye West “New Slaves”
French Montana Ft. Trey Songz & Fabolous “40″
Ludacris “I Don’t Give A Fuck”
#HeaterOfTheDay: J Money Ft. Rich Homie Quan “All I Wanted”
PJ Morton Ft. Busta Rhymes “Never Get Over You”
Lil’ Wayne Being Investigated for Assault
Rev. Al Sharpton Denies He Took Bribes From Gangsta Rappers