July 6th 2023.
50 Cent just got dealt the final blow in his failed feud with Rick Ross. The dispute cost him a whopping $7 million and resulted in his past bankruptcy filing.
On June 30th, U.S. District Judge Vanessa Bryant ruled in favor of the bankruptcy court's decision to dismiss his $32 million lawsuit against his former law firm, Reed Smith, and its former partner Peter Raymond.
50 Cent, real name Curtis Jackson, had sued the law firm of legal malpractice. He accused them of contributing to his losing $7 million in a trial with Rick Ross' ex-girlfriend Lastonia Leviston. This was after 50 Cent posted a sex tape of her as part of his ongoing feud with Rick Ross.
Reed Smith had been representing 50 Cent prior to the trial, but was fired four months before the trial took place. With the verdict, 50 Cent was forced to file for bankruptcy in Connecticut. Reed Smith then filed a claim seeking over $609,000 in unpaid attorney fees.
In response, 50 Cent filed a legal malpractice claim against the law firm. He accused them of having an uninformed legal strategy and a conflict of interest that contributed to his trial loss. To make matters worse, he was seeking $7 million in actual damages and $25 million in punitive damages from the firm.
Unfortunately, 50 Cent's claims were dismissed twice by U.S. Bankruptcy Judge Ann Nevins in March 2019 and June 2021. He appealed the rulings with Judge Vanessa Bryant in New Haven, Connecticut, but just received the final ruling that wasn't in his favor. The judge ruled that 50 Cent failed to offer enough evidence to prove the alleged conflict of interest by Reed Smith had an impact on his case or caused his loss at trial.
Despite everything, 50 Cent has continued to flourish in the wake of his trial loss and bankruptcy filing. His hit show "Power" remains a favorite on Starz, and the rapper recently inked a broadcast deal with Fox and a partnership with the NHL. With a net worth listed at $40 million, 50 Cent certainly isn't hurting from the trial loss.
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