50 Cent is not happy with his former lawyers and is seeking major payback.
The Wrap reports that the rapper is suing his ex-lawyers for $32 million after losing his sex tape lawsuit to Rick Ross’ ex Lastonia Leviston in 2015. As we previously reported, 50 (aka Curtis Jackson) was sued by Leviston after he posted a sex tape of her and her partner online. As a result, she opted to sue the emcee for $7 million, causing him to file for bankruptcy.
Fifty filed a claim to the U.S. Bankruptcy Court in Connecticut last Friday, citing that the miscues from his ex-lawyers Reed Smith and attorney Peter Raymond left him at a disadvantage against Leviston during her lawsuit against him. Fif blames his former lawyers for urging him to file for bankruptcy, revealing that he wouldn’t have filed if he was aware of the “neglectful, negligent and unethical conduct of Raymond and Reed Smith.”
The legal complaint continues, “[Smith and Raymond’s] lack of effective representation and inadequate pre-trial preparation and preparation for trial caused Jackson to retain new counsel on the eve of trial.”
Fifty is seeking $25 million in punitive damages and $7 million in actual damages for breach of fiduciary duty and malpractice.
Do you think the lawyers should pay up, or is this all 50’s fault?
1. SMS Audio: This company that primarily sells headphones was founded by 50 Cent in 2011. In the same year, the company acquired Kono Audio. As far as the competition goes, he once said Dr. Dre's "Beats is Nike. We're Adidas."
1 of 8
2. Power: 50 Cent is into all sorts of entertainment. Though he obviously stars in the Starz hit series "Power," did you know he also produced the show? "Power" holds the "most viewers ever for a Starz original series" record.
2 of 8
3. Vodka: 50 Cent has recently partnered with Effen Vodka. The "ultra-premium" liquor comes in lots of flavors, including Black Cherry, Dutch Raspberry, Cucumber, and Salted Caramel.
3 of 8
4. SMS Promotions: 50 Cent started this boxing promotional company after his joint project with Floyd Mayweather, TMT Promotions, failed. Though SMS Promotions reportedly declared bankruptcy this year, it previously promoted boxers such as Andre Dirrell, Chris Galeano, and more.
4 of 8
5. SK Energy: Street King is an energy drink created by 50 Cent and his partner Chris Clarke. It boasts a variety of flavors, and was rebranded as "SK Energy" in 2012.
5 of 8
6. Frigo Underwear: 50 Cent put his insane body on full display in a series of advertisments for the underwear company this year.
6 of 8
7. VitaminWater: 50 Cent made $100 million after selling his stake in the privately owned company.
7 of 8
8. G-unit: We can't forget about the clothing company that 50 Cent started in 2003 and relaunched in 2010. 50 maintains full ownership of the clothing line.
8 of 8
Continue reading 50 Cent’s Most Lucrative Business Endeavors