Rapper Flo Rida claims he’s not happy with one of the brands he’s made famous and owes him stock options and bonuses for his discounted services.
He and his lawyers are gearing up for a trial next week.
According to MSN, ‘Law’ chart-topper and his legal team are taking the energy drink company he endorsed for two years as a 2000s teen to court, and the company is doing some weird business procedures. and severing favorable stock options from him. and thousands of dollars.
The first lawsuit was filed in 2021 and is currently on trial in Broward County, Florida, starting January 10.
“It was specifically contemplated that additional compensation, in the form of company shares and ongoing royalties, would be paid by Celsius if Celsius were to benefit in the future,” the lawsuit said.
The rap star’s attorney, John Eustall, is seeking $30,000 in damages for his services from 2014 to 2016.
They also said the artist owes shares through his original contract.
“He is entitled to 500,000 shares through the contract, and 250,000 shares if certain things happen. It means we need to, but unfortunately it’s not specified in the contract.What type of unit — is it a box or is it a drink? There’s no timeframe or deadline,” the lawyer said.
This is important because when he signed the deal in 2014, the company sold shares at $1 a share, and now costs $100 a share.
If Flo Rida wins, he could be awarded $50,000,000 in stock.