HARTFORD, Conn. _ Hip-hop mogul and businessman 50 Cent has won a $14.5 million settlement against the lawyers who represented him in a deal with a headphone company that helped propel him into bankruptcy in July 2015.
The failed deal with Sleek Audio resulted in an $18.4 million settlement against 50 Cent, whose real name is Curtis James Jackson III. Sleek Audio was Jackson's largest creditor in his Chapter 11 bankruptcy petition and ultimately settled for $17.5 million. Jackson's bankruptcy reorganization was approved this summer.
Any settlement from the law firm Garvey Schubert Barer was factored into 50 Cent's reorganization plan, and the bulk of the $14.5 million, $13.649 million, will go to creditors. The rest will go to the lawyers who represented Jackson in the claim against the law firm.
Jackson, of Farmington, has a date in U.S. Bankruptcy Court Dec. 15, where he'll seek Judge Ann M. Nevins' approval of the settlement.
