Curtis Jackson, also known as 50 Cent, has filed a lawsuit accusing a Wall Street law firm of giving him shoddy representationduring a protracted legal battle over a deal to market headphones using the rapper’s brand.
50 Cent filed for Chapter 11 bankruptcy protection in July submitted the complaint against Garvey Schubert Barer in the Connecticut bankruptcy court Tuesday seeking $75 million in damages.
The rapper claims the law firm did a terrible job representing him while he was dealing with the legal fallout from a failed venture with a company called Sleek Audio. Inspired by the success of Beats by Dre, 50 Cent began working with Sleek in 2010 to create his own brand of headphones called “Sleek by 50.”
Sleek missed its launch deadline and never ended up marketing the headphones,according to 50 Cent’s complaint. The rapper decided to form his own company,SMS Audio,
Craig Weiner, a partner at Robins Kaplan who’s representing 50 Cent in his bankruptcy proceedings, said the rapper only filed the lawsuit against GSB after it was determined a settlement couldn’t be reached.
“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,”
Weiner said in a statement.
When he filed for bankruptcy in July, 50 Cent blamed his inability to pay his debts on expensive litigation, including the Sleek battle, as The Wall Street Journal noted at the time.
Before his bankruptcy, 50 Cent also lost a high-stakes legal battle filed by a woman whose sex tape he published on the internet.
GSB sent this statement in response to the 50 Cent lawsuit:
We understand that Mr. Jackson is disappointed in the outcome of Sleek Audio’s arbitration against him.
However, Mr. Jackson’s complaint against GSB omits a number of relevant facts and misstates a number of others, and we will respond to the allegations in accordance with the court’s rules.
Our attorneys properly counseled Mr. Jackson and his sophisticated team of financial and operational advisors about the transactions and the arbitrations with Sleek.
Unfortunately, the arbitrator in the Sleek case found Mr. Jackson responsible for his actions and the actions of those who performed services for him or his companies.
We look forward to demonstrating that our attorneys handled the Sleek matters appropriately in all aspects.