Before there was SMS Audio there was Sleek Audio, a Florida-based electronics company that 50 Cent once partnered with to create his own line of headphones, Sleek by 50, but plans fell through and they ended up severing ties. Now, due to the indifference’s, and 50 Cent heading in another direction with SMS Audio, he has been hit in pocket, big time.
As reported by the Miami Herald, court documents have been recently unsealed, and they reveal that 50 Cent has been ordered to pay $16 million to the Bradenton, Florida electronics company that was supposed to manufacture a line of headphones using the New York rapper’s name.
According to the court docs per MH, 50 Cent has been ordered to pay $11.6 million in damages for misappropriation of trade secrets, unjust enrichment and breach of confidentiality. 50 was also hit with another order to pay $4.4 million for Sleek’s lawyer fees. Totaling a sum of $16 million.
To break it down in layman’s terms, a West Palm Beach, Florida arbitrator found that 50 stole design secrets from Sleek Audio to make his own SMS branded headphones, Street by 50 and Sync by 50.
According to the Herald’s report, 50 “desperately tried to keep the award documents sealed, but the federal court unsealed them recently.”
As of press time, there has been no comment from 50 Cent nor his lawyers on the outcome of the case.