(CelebNMusic247) 50 Cent Suing Sleek Audio For $285k!
50 Cent is filing suit against Sleek Audio, LLC, the company with which he partnered to launch the “Sleek By 50” wireless headphone line.
According to reports, Fiddy is suing the company for a $285k promissory note he loaned the company back in April 2010. However, In May, Sleek terminated its licensing agreement with 50 Cent.
Now, The G-Unit Lieutenant wants his advance money paid back, along with interest and wants Sleek to pay any legal fees that have stemmed from this issue.
Sleek Audio claims that they don’t have to repay the loan because 50 took their idea to a competitor and allegedly omitted and misstated information during their negotiations with intent of fraud.
They have filed a countersuit for breach of contract and agreement.
The company said in a statement:
“Sleek would have never borrowed money from Jackson or allowed him to invest in its company had it known that Jackson would ultimately use this tactic (of misusing the money) to steal its design, technology and headphones.”
