Flo Rida won his lawsuit against Celsius, a Florida energy drink company. Flo received over $82M in damages as well as the 750K shares in stock-based bonuses he earned after generating contract sales.
The jury sided with the “Low” artist and his legal team on claims about the breach of contract where Celsius violated the terms in the 2014 endorsement.
Flo Rida had also been rewarded $82M in damages as well as 750,000 shares in stock-based bonuses he earned after he met the sales benchmarks outlined in the contracts, according to reports. After the verdict, the Miami native took a sip of his Celsius drink and thanked his legal team for the victory.
“I just want to say God is good,” he said before taking another drink. “In Jesus’ name.” He also thanked the jury, the judge and his attorneys.
Flo Rida Sues Energy Drink Company
Flo Rida sued Florida energy drink company Celsius for an endorsement deal gone wrong. The rapper cited an alleged breach of contract, exclusion from stock options, and unpaid royalty fees by the company.
Flo Rida Sues Celsius
Like Jay-Z with Bacardi, Flo Rida filed a lawsuit against Celsius over an alleged breach of contract, exclusion from stock options, and unpaid royalty fees by the company. He is seeking $30,000 in damages.
Flo Rida & His Attorney Speak On Lawsuit
The “Low” artist spoke openly with Squawk Box’s Andrew Ross Sorkin and Becky on his initial partnership with Celsius in 2014.
“Well this started back in 2014. I was asked to be the brand ambassador for Celsuis, Flo said. “I mean, this was a young company out of the state of Florida. And myself, I thrive on health. Since being in ninth grade, all I did was love fitness knowing that health is really wealth. So I was in this thing for the long haul, and basically when it came down to getting compensated.”
The rapper’s attorney, John J. Uustal, said a judge ruled on “some ambiguities” in the contract.
Jay-Z Sues Bacardi
Mogul Jay-Z also filed a lawsuit against Bacardi over their partnership with cognac brand D’USSÈ. The business mogul demands transparency from the spirit company along with financial clarity.