50 Cent Files Bankruptcy and Sues Wall Street Law Firm

In the most recent chapter of the “bankruptcy chronicles,Curtis “50 Cent” Jackson has filed a lawsuit against the firm of Garvey Schubert Barer stating they poorly represented him in his case against Sleek Audio. Fiddy filed the case in Connecticut bankruptcy court on approximately one week ago and is asking for a whopping $75 million. According to documents, the rapper/actor/producer claims that the Wall Street law firm did not “employ the requisite knowledge and skill necessary to confront the circumstances of the case.”

 

50_Cent SleekBack in 2010, 50 Cent teamed up with Sleek Audio to launch his own brand of headphones, “Sleek by 50.” When Sleek missed their launch deadline and the headphones didn’t hit the market, Fiddy started his own headphone company, SMS Audio. In the court documents, the Power producer claims that his lawyers advised him that he would not be infringing on any intellectual rights and that Sleek Audio could not have a case against him. They were dead to the bed wrong, probably not admitting it or offering any type of “reparations.”

Sleek Audio later filed a lawsuit against 50 claiming that he misappropriated trade secrets to sell his SMS Audio headphones. They ended up winning and the judge ruled that 50 had to pay them $16 million including $5 million for attorney’s fees.

Losing this case and being ordered to pay Rick Ross’ ex-girlfriend $5 million after releasing a sex tape  likely played a role in his filing for bankruptcy due to the expensive legal fees.

 

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