50 Cent, Sleek Audio: Rapper Sues Former Business Partner
50 Cent is embroiled in yet another legal battle. After winning a lawsuit just yesterday Curtis Jackson is back in court– this time with his former headphones business partner Sleek Audio, Tampa Bay Business Journal reports.
The company, which is located in Bradenton, FL. partnered with Jackson’s G-Unit, LLC back in 2011 for a line of wireless over ear headphones called “Sleek by 50.”
Around May of 2011, the companies announced they were going their respective ways, and now 50 Cent is claiming that Sleek Audio owes him a hefty $261,000.
He alleges that the company signed a promissory note for $285,000 plus interest to be repaid before July 2011 or that it was due “when the company received aggregate gross proceeds of more than $750,000 through private offerings of debt or equity in the company.”
The “In Da Club” rapper says the note was never repaid and is now suing. Court records show that he was granted an arbitration for the money that he was owed, and he is now asking the court to confirm.
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