50 Cent Just Lost $16M To Sleek Audio
50 Cent has some legal troubles on his hand. Recent unsealed court documents show that the “Get Rich Or Die Tryin’” rapper owes $ 16 million to Sleek Audio, a company that was supposed to manufacture his headphones.
The papers state that 50 must pay $ 11.6 million in damages for misappropriation of trade secrets and breach confidentiality in addition to $ 4.4 million in legal fees and expenses.
According to the Miami Herald Sleek Audio claims that the rapper stole design secrets from the company to make his headphones Street by 50 and Synch by 50.
In 2011 he parted ways with the company to team up with SMS Audio.
It stated in the documents that 50 became interested in the headphone business after seeing the success of Beats by Dr. Dre. – Chris M. Garner