Hip-Hop Rumors: Is 50 Cent Bailing On His Headphones Company?

It looks like 50 Cent is having some trouble with Bradenton company aka Sleek Audio, LLC, the company he partnered with for his “Sleek by 50” wireless headphones. 50 Cent has officially filed a lawsuit against the company for $285,000, the amount he invested in the company as well as an additional $61,429 in back interest and an additional 15 percent for any debt as well as reimbursement for his legal fees.

According to the Miami Herald, the company is claiming that 50 defrauded them when he took their idea to a competitor, SMS Audio. According to the lawsuit, “Sleek would have never borrowed money from Jackson or allowed him to invest in its company had it known that Jackson would ultimately use this tactic (of misusing the money) to steal its design, technology and headphones,” the company said in an un-sworn court statement.

If 50 did take their technology to a competitor, that pretty shady. Dr. Dre and Jimmy Iovine, the owners of Beats By Dre can rest easy, it looks like 50 Cent is out of the headphone game.

Sidenote – 50 Cent released a statement today regarding the tragic death of his manager, Chris Lighty. Below is the statement he released to Billboard Biz:

“Chris has been an important part of my business and personal growth for a decade,” said 50 Cent in a statement through his publicist. “He was a good friend and advisor who helped me develop as an artist and businessman. My prayers are with his family. He will be greatly missed.”