Rapper Flo Rida Wins $82 Million In Lawsuit Against Celsius Energy Drinks
Rapper Flo Rida, best known for his hits like “Low” and “Right Round,” was awarded more than $82 million on Wednesday by a Florida jury in his lawsuit against Celsius energy drinks, after he claimed the company owed him money and stock options over an endorsement deal.
Flo Rida, whose real name is Tramar Dillard, was awarded $82,640,450 in damages.
Flo Rida’s team lawyer said in closing arguments he wanted the 1% ownership of the company he was previously promised, and not necessarily a dollar amount, according to Law&Crime.
Over $27 million of the damages represent 250,000 shares in Celsius the rapper said he was owed by the company.
The jury found that Celsius breached its 2014 agreement with Flo Rida, and fraudulently concealed information relating to the breach.
Flo Rida signed an endorsement deal with Celsius in 2014, and renewed it in 2016. In 2021, the rapper sued the brand, claiming he was not given stock options and other bonuses he was promised in his contract with them. These bonuses were promised if certain sales achievements were met, however, Flo Rida’s team argued the contract was vague, which prevented him from cashing in on them. “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,” lawyer John Uustal told Insider. Flo Rida said he was also not privy to the Celsius’ financials, and he was not alerted when the company surpassed such goals, and didn’t know that he did. Lawyers for Celsius had argued in documents that the statute of limitations for Flo Rida to bring the complaint had passed, and that its deal with him had ended in 2018. Flo Rida claimed his endorsement of the brand helped them rise to success. Shares of Celsius Inc. Holdings trade at over $100.
Flo Rida Wins Lawsuit Against Energy Drink Company Celsius, Awarded Damages (Law&Crime)
Rapper Flo Rida accused Celsius — which Doja Cat called ‘Flo Rida’s energy drink’ — of stiffing him on stock options and bonuses (Insider)