Fif filed the case in Connecticut bankruptcy court on Oct. 6th and is asking for a whopping $75 million. According to documents, the Queens rapper says that the Wall Street law firm did not “employ the requisite knowledge and skill necessary to confront the circumstances of the case.”
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, 50 went on to start 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 wrong.
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 $11 million along with another $5 million for attorney’s fees.
Losing the case reportedly played a role in Fiddy filing for bankruptcy due to the expensive legal fees. A judge also ruled that he pay Rick Ross’ ex-girlfriend $5 million after it was ruled that he published her sex tape on the internet with malicious intent.
Source | All Hip Hop