Lawsuits have been a major factor in the recent life of 50 Cent aka Curtis Jackson. Losses in court including his failed headphones deal with Sleek Audio and the leak of a sex tape depicting Rick Ross’ baby’s mother set 50 back millions of dollars and forced him to file for bankruptcy. In addition to awarding those suing him, 50 has also had to pay millions of dollars in lawyer fees. Fiddy is looking for some comeuppance with some of his legal representation, however. He is suing the Wall Street law firm that represented him in the Sleek proceedings, claiming they gave him faulty advice. 50 is seeking $75 million from Garvey Schubert Barer (GSB) in Connecticut bankruptcy court for not telling him what he needed to know in the headphones case.
To compete with Dr. Dre’s Beats by Dre headphones, Fif started working with Sleek to make his own headphones in 2010. Sleek never launched the “Sleek by 50” headphones, so 50 took it upon himself to form his SMS Audio company to release them. He claims that his lawyers at GSB assured him that he wasn’t infringing on any of Sleek’s intellectual property with the venture. Sleek ended up suing 50 for divulging trade secrets while launching the headphones. Sleek was successful in its lawsuit, and 50 was forced to fork over $11 million to them and $5 million in lawyer fees.
Business Insider released some of 50’s complaint against GSB:
50 Cent accuses the firm’s lawyers of failing to “employ the requisite knowledge and skill necessary to confront the circumstances of the case.” The rapper’s complaint added:
Among GSB’s numerous failures was its inexplicable decision not to call technical and damages experts to rebut expert testimony offered by Sleek—failures relied upon by the arbitrator in crediting Sleek’s experts and entering an eight-figure award in Sleek’s favor.
Craig Weiner, litigator with the firm representing 50 in his bankruptcy proceedings implied that 50 is only taking legal action against GSB because a settlement could not be reached. He said, “In connection with this legal representation, as set forth in the Complaint Mr. Jackson became saddled with liabilities exceeding $18 million, not including the millions he spent in legal fees.”
We’ll keep you posted on developments.