According to reports, rapper Flo Rida was awarded $82 million in court on Wednesday in his lawsuit against Celsius Energy Drinks.
Flo Rida sued the company over money and stock options that were never paid as part of his endorsement deal. Per Forbes, "over $27 million of the damages represent 250,000 shares in Celsius the rapper said he was owed by the company." What's more, the jury found that Celsius not only breached their 2014 contract with Flo Rida, but also took action to fraudulently conceal the breach.
"He's entitled to 500,000 shares of stock via the contract, and entitled to 250,000 shares of stock if certain things happen—one of those yardsticks is that a certain number of units of products need to be sold, but unfortunately the contract doesn't specify which type of unit—is it a box, is it a drink? And there's no timeframe or deadline," Flo Rida's lawyer John Uustal told Insider.
Source: Forbes.com
