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50 Cent Sues Headphones Company

September 1st, 2012 2:02pm EDT

50 Cent

Rapper 50 Cent is suing the bosses of a headphone company for failing to pay back his initial investment in a planned venture.

The "In Da Club" hitmaker, who is now the face of SMS headphones, claims he partnered with executives at Sleek Audio LLC in 2010 and offered up cash that he was supposed to get back.

In his new suit, 50 reveals his former partners still owe him $285,000.

He announced his Sleek by 50 deal at the beginning of last year, but the venture never materialized.

Now his former partners claim the loan was nullified once 50 Cent teamed up with a rival and created the SMS line.

They allege he "purposely omitted and misstated information during their negotiations with intent of fraud", insisting they would never have borrowed the money if they had known 50 would not see the deal through.

The rapper's lawyers claim they have attempted to settle the matter and recoup the money and now they are planning to go to court to ask the company to return the advance money, plus interest - and pay their client's legal fees, according to the Miami Herald.


Photo Credits: Winston Burris / PR Photos