50 Cent Reaches $14.5 Million Settlement In Malpractice Case

50 Cent

(Radio.com) 50 Cent has reached a settlement in his legal malpractice suit against his former legal team and will be awarded $14.5 million. But the rapper likely won't see much of that money since he continues to battle bankruptcy and other debts.

Forbes reports that much of 50 Cent's settlement will go towards satisfying his $23 million bankruptcy settlement from July. In 2014, he was ordered to pay headphone makers Sleek Audio $16 million after he cut ties with the company, only to produce his own headphones.

The judge alleges that 50 used the company's trade secrets to launch his SMS audio company, which included a similar headphone design. 50 then filed a malpractice suit against Garvey Schubert Barer (GSB), the law firm who represented him against Sleek Audio, claiming the firm "didn't adequately represent his interests in licensing negotiations and arbitration disputes with Sleek Audio." That's the suit he just settled or $14.5 million. Read more here.

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Copyright Radio.com/CBS Local - Excerpted here with permission.


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