50 Cent claims that his lawyers' horrible legal advice is directly responsible for his bankruptcy.
50 Cent is suing his former lawyers for $75 million in damages, claiming that their misinformed legal counsel has had grave financial consequences. Business Insider reports that 50 filed a lawsuit on Wednesday morning against Garvey Schubert Barer, claiming that the firm gave him erroneous legal advice that was directly responsible for his $16 million owed to Sleek Audio and Chapter 11 bankruptcy filed this July.
Inspired by the success of Beats by Dre headphones, 50 teamed up with Sleek Audio in 2010 to produce and market a new line of headphones called "Sleek By 50." In his complaint, he claims that Sleek never followed through with their end of the deal, so he started his own company SMS Audio. GSB wrongly assured him that he wasn't liable for copyright theft by launching his own competitor. They were wrong, and 50 got stuck with a massive bill.
50's bankruptcy case stemmed in large part from his inability to repay his debts to Sleek Audio, who is now his biggest creditor; he owes them over $18 million.