50 Cent to Pay $16 Million For Stealing Headphone Trade Secrets


    The rapper and entrepreneur Curtis Jackson has his own line of cans, although they’re not as ubiquitous as Dr. Dre’s line of Beats headphones

    by Patrick Austin    Posted: April 9, 201450 cent in  suit

    50 Cent owes a few million dollars to some former business partners, according to the Miami Herald.

    The rapper and entrepreneur, whose real name is Curtis Jackson, is being forced to pay $11.6 million in damages for misappropriation of trade secrets, unjust enrichment and breach of confidentiality. He also has to pay $4.4 million in legal expenses.

    The issues stem from a former deal with Sleek Audiothat eventually fell through. The Bradenton-based company was supposed to create a brand of headphones with 50 Cent, called “Sleek by 50.”

    The deal was supposed to take place through 50 Cent’s company, G-Unit LLC, but the two companies split in May 2011 before ever marketing the product.

    RELATED: 50 Cent’s SMS Audio Partners with NASCAR’s Swan Racing

    50 Cent was trying to reap the same success as Dr. Dre with his Beats headphones, according to the revealed documents.

    Coincidentally, SMS Audio, Jackson’s own headphone company, was founded in August 2011 after acquiring Kono Audio.

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