financetom
News
financetom
/
News
/
Hip hop artist Flo Rida awarded $82.6 million for a breach of contract case
News World Market Environment Technology Personal Finance Politics Retail Business Economy Cryptocurrency Forex Stocks Market Commodities
Hip hop artist Flo Rida awarded $82.6 million for a breach of contract case
Jan 19, 2023 4:01 AM

Hip hop artist Flo Rida was awarded USD 82.6 million on Wednesday after a South Florida jury found that the makers of Celsius energy drinks breached a contract with the rapper and singer and tried to hide money from him.

Flo Rida, whose real name is Tramar Dillard, and his production company, Strong Arm Productions, had sued Boca Raton-based Celsius Holdings Inc. in Broward County court in May 2021, claiming that the company had violated the conditions of an endorsement deal.

"Basically, I helped birth this company, and all we were looking for was some trustworthy people who acted as if they were family," Dillard told The Associated Press. "And then when it comes down to the success of today, they just forgot about me." Lawyers for Celsius argued in court and in previous filings that the company reached its greatest success after the Flo Rida endorsement deal ended — and that other business decisions led to increased sales and stock value. Celsius could still appeal the verdict, but it wasn't immediately clear if they would. Attorneys for the company didn't immediately respond to messages seeking comment from The Associated Press.

Also Read:Here are four success stories from Shark Tank India

According to the civil complaint, Flo Rida was a brand ambassador for Celsius from 2014 to 2018. During that time, Dillard played an instrumental role in launching a new era for the company's brand development, growth and expansion, introducing Celsius to millions around the world, the complaint said.

Dillard and his attorneys argued that the partnership paved the way for Celsius to grow its product portfolio, which includes adding a powder product and new product line called Celsius Heat in conjunction with Flo Rida's partnership. The company has consistently sold and collected revenues for its powder form products since then.

Attorney John Uustal said Flo Rida wanted the 1 per cent ownership he was promised and would still be willing to accept the stock instead of the jury's monetary award.

"He (Dillard) loved the product, and it's been a very successful four-year relationship," Uustal said. "There were some benchmarks. He was supposed to get stock when certain things happened. And there became a dispute about whether those benchmarks had been reached. So that's what this was about."

Dillard said he continues to drink Celsius products and even owns some stock in the company. He said he'd like to move on from the legal battle and work with the company again in the future.

"I'm still an owner in the company," Dillard said. "And when you basically planted the seed for something that is successful, you can't help but have unconditional love."

Also Read:BTS’ Jin shares first pics after joining military service, says 'I’m having fun'

.

(Edited by : Sangam Singh)

First Published:Jan 19, 2023 1:01 PM IST

Comments
Welcome to financetom comments! Please keep conversations courteous and on-topic. To fosterproductive and respectful conversations, you may see comments from our Community Managers.
Sign up to post
Sort by
Show More Comments
Related Articles >
Strong Yen Weighed on Japan’s Trade Balance in July, Fed Speakers up Next
Strong Yen Weighed on Japan’s Trade Balance in July, Fed Speakers up Next
Aug 21, 2024
Japanese Yen (USD/JPY) Analysis Japan’s July trade balance likely impacted by a significantly stronger yenEconomists and market participants expect another rate hike this yearUSD/JPY bearish continuation may receive a helping hand from the Fed Recommended by Richard Snow Get Your Free JPY Forecast Japan’s July Trade Balance Likely Impacted by a Significantly Stronger Yen Japan’s trade balance in July was...
​​​Nvidia's Q2 Earnings Preview: The Fight to Stay on Top​​​
​​​Nvidia's Q2 Earnings Preview: The Fight to Stay on Top​​​
Aug 19, 2024
​As Nvidia gets ready to announce its earnings for the second quarter of 2024, investors want to know if the darling of US chip stocks can regain recently lost ground. ​Key takeaways ​Nvidia will release its Q2 results on 28 August 2024 ​Revenue of $28,544 billion: +211.31% year-on-year (YoY) ​Q2 earnings per share of $0.64 expected ​Consensus of analysts ‘buy’...
Gold, Silver Price Action Setups Ahead of FOMC Minutes, Jackson Hole
Gold, Silver Price Action Setups Ahead of FOMC Minutes, Jackson Hole
Aug 20, 2024
Gold, Silver Technical Analysis Gold surges to new all-time high on rate cut hopes, geopolitical uncertaintySilver maintains bullish advance to break above key trendlineThe analysis in this article makes use of chart patterns and key support and resistance levels. For more information visit our comprehensive education library Recommended by Richard Snow Get Your Free Gold Forecast Gold Surges to New...
US Dollar Remains Weak Ahead of Jackson Hole, USD/JPY and Gold Latest
US Dollar Remains Weak Ahead of Jackson Hole, USD/JPY and Gold Latest
Aug 19, 2024
US Dollar (DXY), USD/JPY, and Gold Latest US dollar weakens further ahead of key Fed chair speechUSD/JPY looks technically weakGold consolidating Friday’s record high.This year’s Jackson Hole Symposium – “Reassessing the Effectiveness and Transmission of Monetary Policy” – will be held on August 22-24 with Fed chair Jerome Powell’s keynote speech on Friday as the main attraction. Traders expect chair...
Copyright 2023-2025 - www.financetom.com All Rights Reserved