“Mo money, Mo problems” poses as a reality quote when it comes to anyone who’s found a way to amass a fortune. Take 50 Cent’s latest issue. Sued by Sleek, a New York company he once agreed to work with on a headphone line, 50 is accused of investing $1 Million and then developing Sync by 50 with another company. In a statement, Sleek says 50’s “other” venture had “basically the same design, mechanically” as the one he’d initially planned with Sleek.
This final result of this suit has been drawn out. Back in 2011, according to hiphopDX, 50 commented saying, "The license arrangement between my company, G-Unit, and Sleek Audio to produce headphones branded as 'Sleek by 50' has been cancelled," he said. "Instead, I have established a new company that is developing a complete line of audio accessories, including wireless headphones, offering superior sound quality along with cutting edge technology for all music lovers to enjoy…As an artist, I am committed to bringing top-of-the-line audio products to my fans, and I am excited that I have the resources to achieve just that with this new venture."
But according to Sleek, 50 sought to take over the company by stealing 4000 potential customer email addresses, avoiding phone calls, and according to Radar Online, "misappropriating trade secrets, breaching his fiduciary duty owed to Sleek, participating in a civil conspiracy, breaching his confidentiality agreement with Sleek, and being unjustly enriched."
This week, there was finally an end to the legal stage with a judgment ordering 50 Cent to pay dollar bills amounting to over $16 million covering damages and Sleek’s attorney fees. Ouch.
