The ‘Low’ hitmaker, who filed a lawsuit against the energy drink giant in 2021, has been awarded $82,640,450 million in damages following his win in the breach of contract case.
AceShowbiz –Flo Rida has come out victorious in a breach of contract case against Celsius. The “Low” hitmaker, who filed a lawsuit against the energy drink giant in 2021, has been awarded $82,640,450 million in damages following his win.
A jury handed down the judgment in a Florida courtroom on Wednesday, January 18. Forbes reported that $27 million of the amount represents 250,000 Celsius shares the emcee said he was owed by the company.
Flo Rida, born Tramar Lacel Dillard, signed the endorsement deal with Celcius in 2014 before renewing it in 2016. The partnership ended in 2018, but it was not until around three years later that the rapper decided to drag the company to the court.
In his filing, the “GDFR” rhymer claimed he wasn’t aware that Celcius was withholding stock and royalties from him because the company was successfully concealing this information from him.
“Flo Rida maintained a successful endorsement partnership with Celsius which was highly effective in opening new doors for Celsius and its products,” so read the docs. “As a music industry superstar and international icon with millions of digital followers, Flo Rida played an instrumental role as the worldwide brand ambassador and launched a new era for Celsius brand development, growth, and expansion.”
Flo Rida believed that from “a financial perspective,” Celsius “exponentially increased product revenues and sales, attracted key investors, and upgraded its financial status – all of which ultimately led to the important transition into the Nasdaq market in mid-2017.” However, it “failed to notify [him] or issue the additional shares of company stock in breach of the 2014 Agreement.”
Now that he won the case, Flo Rida said in a statement, “From the start, I only wanted what I worked for, nothing more, nothing less. I was instrumental in the Celsius that you know and love today. When this journey began no one knew Celsius. I took Celsius all over the world through my videos, concerts, appearances, and social media.” He added, “I have gained a new respect for the judicial system. God bless America.”
His lawyer, John Uustal, stated, “There were complicated legal issues in this case. We said we’d trust the jury to do the right thing, we’d trust the verdict, accept the decision of the jury.” The attorney continued, “And it’s amazing how detailed the jury verdict was, how they filled out a complicated and extensive jury verdict in such a way that made it clear beyond any doubt that they understood all the most difficult issues in the case, and resolved them.”
You can share this post!
Source: Read Full Article
