We’re sure Flo Rida is somewhere celebrating his court win today. The rapper took Celsius energy drink to court after he claimed they owed him money and stock options. It was reported that the company linked with Flo Rida for an endorsement deal. However, in the end, he said he didn’t receive what was promised.
Forbes reports the deal first emerged in 2014, but it was later renewed in 2016. However, the lawsuit was filed in 2021 because the rapper didn’t allegedly receive the promised stock options or bonuses.
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Forbes writes that as far as the bonuses were concerned, they were only given if Celsius reached a sales quota. Yet, it was argued that these achievements weren’t clarified, so he couldn’t receive the bonuses.
“He’s entitled to 500,000 shares of stock via the contract, and entitled to 250,000 shares of stock if certain things happen,” attorney John Uustal also revealed to Insider. “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.”
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The court sided with Flo Rida, stating that Celsius did break their contract. He was awarded over $82 million, and Forbes further stated “over $27 million of the damages represent 250,000 shares in Celsius.”
Check out footage of Flo Rida testifying in court and jamming to his music above.
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