Judge rules in favor of Sleek Audio over 50 Cent
50 Cent is known for attaining most of his wealth through his music and business ventures. One of his most successful deals was in his involvement of Coca-Cola’s acquisition of Vitamin Water. Now 50 Cent has been ordered to pay over $16 million to Sleek Audio, according to RadarOnline.
Sleek has accused 50 Cent of “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.”
In an interview with HipHopDX in 2011, 50 Cent said that the licensing arrangement he had in place between his company, G-Unit, and Sleek Audio to produce headphones that were branded as “Sleek by 50″ has been cancelled.
“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,” said 50.
The new headphones 50 Cent released is called “Sync by 50.” Sleek alleged that these headphones were “basically the same design, mechanically.”
The judge ruled in favor of Sleek Audio and ordered 50 Cent to pay $11,693,247 in damages and $4,488,331 in attorney fees.