50 Cent (real name Curtis Jackson) has settled a malpractice lawsuit with his former lawyers and will receive $14.5 million — but it’s unlikely he will see any of that award, as most of it will go toward satisfying the $23 million bankruptcy settlement he agreed to in July, pending approval, Forbes reports.
In a 2014 lawsuit, Jackson was ordered to pay headphone makers Sleek Audio $16 million after the rapper severed his deal with Sleek to produce his own brand of headphones. A court ruled that his headphones was “basically the same designs” as his Sleek-branded pair.
via TMZ:
50 had sued his team of attorneys for malpractice, insisting they did a shoddy job repping him against Sleek Audio. You’ll recall, Fiddy lost that case and owed Sleek a ton of cash.
Rather than go to trial, the lawyers have struck a deal with the rapper … agreeing to pay him the $14.5 mil. Not that Fiddy will be able to spend it — it’s already spoken for due to his bankruptcy.
According to docs filed in that case … 50 still owes $23 million to his creditors, including $17 mil to Sleek — so the settlement money’s likely going straight into their pockets, not his.
The bankruptcy judge still needs to sign off on the deal.
50 Cent also owes $7 million in damages after losing a privacy lawsuit over a leaked sex tape.
In a deleted Instagram post following the $14.5 million decision, Curtis wrote, “I just got 14.5 million back from one Law Firm For malpractice. They f**ked up so bad, I don’t think they should be practicing Law.”
Rolling Stone notes that on Monday, 50 replaced that post with a Photoshopped image of him sitting on a stack of money, along with the caption, “I retract my earlier statements about the legal services provided to me by the law firm of Garvey Schubert Barer. The law firm and I have settled our dispute and I consider the issue closed.”
PHOTO: 50 Cent Instagram
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