Flo Rida receives a huge victory in court.
Rapper Flo Rida, well known for his hits “Low” and “Right Round,” claimed Celsius Energy Drinks owed him money and stock options as part of an endorsement arrangement, and on Wednesday a Florida jury agreed, awarding him more than $82 million.
- According to Law&Crime, Flo Rida’s legal representative stated in closing arguments that he desired the 1% ownership in the business he had been given in lieu of a monetary payment.
- The jury determined that Celsius broke the terms of its 2014 contract with Flo Rida and lied about the breach.
In 2014, Flo Rida agreed to an endorsement agreement with Celsius, which was later extended in 2016. The rapper filed a lawsuit against the company in 2021, alleging that he had not received the stock options and other compensation he had been promised in their contract. These bonuses were vowed if specific sales goals were achieved, but Flo Rida’s management claimed the contract was ambiguous and he did not receive them.
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“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 that he was not aware of Celsius’ financials, that he was not informed when the company exceeded its targets, and that he was unaware that he had. Celsius’ legal team had argued in documents that Flo Rida could no longer file the complaint because the statute of limitations had run out and that its contract with him had expired in 2018. According to Flo Rida, the company’s success was boosted by his support of the product. The price of a share of Celsius Inc. Holdings is over $100.
