HIMALAYAN NEWS SERVICE
LOS ANGELES: Singer 50 Cent has filed a lawsuit against the bosses of a headphone company for failing to pay back his initial investment in a planned venture.
The singer claims he partnered with executives at Sleek Audio Llc in 2010 and offered cash that he was supposed to get back. He had announced that he will launch his ‘Sleek by 50’ line deal at the beginning of last year, but the venture never materialised.
In his suit, the singer revealed his former partners still owe him $285,000, reports contactmusic.com. However, his former partners claim the loan was nullified once 50 Cent teamed up with a rival company 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 Cent would not see the deal through.