50 Cent Sues Sleek Audio For $285,000 Unpaid Loan...

By Avon_Barksdale - 08-31-2012, 02:24 PM - Boxden > The Hip-Hop Spot

50 Cent goes after his former business partner for his wireless headphones, "Sleek by 50."

50 Cent has sued Sleek Audio LLC over an unpaid $285,000 promissory note that he lent to the company in 2010, according to The Miami Herald.

Fif initially partnered with Sleek for his “Sleek by 50” wireless headphones and terminated his partnership with the company in May. He claims that Sleek Audio agreed to make payments on the loan once it reached $750,000 in revenue, an amount that was apparently met in February 2011. After 50 partnered with SMS Audio, Sleek claimed that the initial loan was nullified since he took the idea to a competitor, and “purposely omitted and misstated information during their negotiations with intent of fraud,” according to the suit.

“Sleek would have never borrowed money from [Curtis] 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," said the company in an un-sworn court statement.

50 tried to recoup the money in March 2011 but the company “essentially refused” by making itself unavailable to meet.

In addition to asking for his advance money returned, he is demanding $61,429 in back interest as well as an additional 15 percent for any unpaid debt moving forward. He also requests that Sleek Audio cover any legal fees connected to this issue.

Source:
50 Cent Sues Sleek Audio For $285,000 Unpaid Loan | Get The Latest Hip Hop News, Rap News & Hip Hop Album Sales | HipHop DX

09-01-2012, 06:33 AM

50 should give me a loan[pic]

09-01-2012, 06:47 AM

Um ok, sooo are they still in business together, meaning , are they still selling headphones even though 50 suing the company that makes them?

09-01-2012, 07:38 AM

Originally Posted by bqstudios

Um ok, sooo are they still in business together, meaning , are they still selling headphones even though 50 suing the company that makes them?

This is a counter-suit. Tampa Bay Rays are suing Sleek as well. They're !!ed

09-01-2012, 07:43 AM

Originally Posted by bqstudios

Um ok, sooo are they still in business together, meaning , are they still selling headphones even though 50 suing the company that makes them?

No.
50 ended the partnership with them.
Sleek Audio is the first company he was gonna do the headphones with then the partnership broke down.

He now works with SMS Audio.

09-01-2012, 11:08 AM

50 gonna win

09-01-2012, 11:25 AM

Originally Posted by KingP1n

No.
50 ended the partnership with them.
Sleek Audio is the first company he was gonna do the headphones with then the partnership broke down.

He now works with SMS Audio.

i thought 50 created SMS Audio.

09-01-2012, 11:54 AM

This headphone !! makes me laugh, DreBeats running the game, his name is the Jordan of the headphone world....

50 needs to find his own lane, which he is with TMT, SK is also doing well, they are looking for a European distributor

09-01-2012, 12:07 PM

Originally Posted by the synthesis

This headphone !! makes me laugh, DreBeats running the game, his name is the Jordan of the headphone world....

50 needs to find his own lane, which he is with TMT, SK is also doing well, they are looking for a European distributor

[pic] you sound dumb as !!,

beats running the head phone game? [pic] you kids and yall hype go die. and im not even speaking about !!ing quality im just speaking on how stupid you sound. [pic]

09-01-2012, 12:13 PM

Originally Posted by Special Edd

[pic] you sound dumb as !!,

beats running the head phone game? [pic] you kids and yall hype go die. and im not even speaking about !!ing quality im just speaking on how stupid you sound. [pic]

Yes the mainstream headphone game, not the audio engineer game...

Beats have cornered the market, they even hijacked the Olympics, by sending athletes headphones and sales went up 20 %.

Beats are not really good headphones, but they have managed to entice the everyday consumer like the IPOD did . The idea of Beats is genius, they tell u a bunch of lies about how good the quality is, the consumer think Dr Dre uses them in his studio, and then they see all these famous people wearing customized versions...

Amazing branding.....

09-01-2012, 12:58 PM

Originally Posted by Special Edd

[pic] you sound dumb as !!,

beats running the head phone game? [pic] you kids and yall hype go die. and im not even speaking about !!ing quality im just speaking on how stupid you sound. [pic]

commercially most kid in America have beats headphones... Kid in high school basketball games warming up shooting with them on. If you have headphones and they are not dre then its like those kids wearing them walmart boots trying to pretend there timz looking like a clown

09-01-2012, 01:38 PM

Originally Posted by D. Norman

commercially most kid in America have beats headphones... Kid in high school basketball games warming up shooting with them on. If you have headphones and they are not dre then its like those kids wearing them walmart boots trying to pretend there timz looking like a clown

[pic] WRONG,WRONG! - YouTube

foh.

Beats headphones are[..] because they're created by a fat fraud that never was half as talented as people made him out to be. A completely different case than, say, Jordans or something.

09-01-2012, 02:12 PM

50 feeling like

[pic] *NEVER SHULDA GAVE YOU NGGAS MONEY! - YouTube**

right now [pic]

Should of never tried to compete with Beats [pic] Beats are #1 for multiple reasons (portable / sound / style / comfort / name recognition). People hate on Beats WISHED they owned a pair.

09-01-2012, 02:12 PM

Originally Posted by Athavan 789

i thought 50 created SMS Audio.

Sleek Audio is the original company that he broke ties with.
50 created his own company and bought another company and made it under SMS Audio.

After a deal with Sleek Audio went awry, Curtis Jackson made his dream of 50 Cent-branded headphones a reality by building it himself. His company SMS Audio acquired KonoAudio and proceeded to release STREET and SYNC by 50.

09-01-2012, 02:22 PM

Originally Posted by AuthenticMade

Yeah being an audio engineer and music producer I can honestly tell you nobody in the real 'headphone world' even gives a flying !! about a dre beat.

Just you wimp kids who buy them to match your little jordans you stand in line for while wasting your hypebeast lives [pic]

I agree with you Beats are actually subpar headphones which are sold to the everyday consumer who is under the illusion that they are professional audio engineering headphones used by Dr Dre....we all get that

However what i was arguing is they have cornered the mainstream market with fraudulent claims, intelligent branding and FREE endorsements by major icons, such as we saw during the Olympics.

No specific headphone is selling units like Beats, it's a first for the headphone market to have such a commercial product sold to the everyday consumer at such a price. Beats are on to a winner, even if their winner is just a basic headphone.

09-01-2012, 02:45 PM

SLeek will pay that money. Freedom of Contracts.

09-01-2012, 02:45 PM

People who don't own beats always love to !! on beats. Bet if u didn't have to buy it with your own money you'd cherish that !! [pic]

09-01-2012, 02:50 PM

Wesc makes better headphones anyways.

09-01-2012, 03:04 PM

Originally Posted by ex-clu-sives

SLeek will pay that money. Freedom of Contracts.

Sleek has no money. They're broke

09-01-2012, 03:14 PM

Originally Posted by SpazzOut

People who don't own beats always love to !! on beats. Bet if u didn't have to buy it with your own money you'd cherish that !! [pic]

I stole a couple of pairs of beats when I worked at a Walmart and I can tell u for the price they suck period i had a pair of Sennheiser HD-280 PRO Headphones that blew them away real talk

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