FloRida wins more than $82 Million in Lawsuit against Celsius energy drink KossyDerrickBlog KossyDerrickEnt


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Wednesday, January 18, 2023

FloRida wins more than $82 Million in Lawsuit against Celsius energy drink

Netflix Is Now Hiring A Flight Attendant And Willing To Pay Up To $385,000 A Year For The Right CandidateRapper 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 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.

In an interview with CNBC’s Squawk Box earlier in January, Flo said he believes he popularized the product after he was asked to be the beverage’s brand ambassador back in 2014.

“Well this started back in 2014. I was asked to be the brand ambassador for Celsius,” Flo explained. “I mean, this was a young company out of the state of Florida, and myself, I thrive on health. Since being in ninth grade, all I did was love fitness knowing that health is really wealth. So I was in this thing for the long haul, and basically when it came down to getting compensated…”

He continued, “It was a time during the pandemic where I got to sit down and really check out all my business endeavors, and this one in particular, I check it out and they were telling me that one of the products I was endorsing wasn’t selling and I got a chance to look at it and it was doing more than well. This product has done over tens and tens of millions of dollars since I joined the company.”

Flo Rida also filed suit over company stock, claiming he was promised and never received any stock for promoting the Celsius drinks for years.

On Wednesday (January 18), a jury ultimately sided with the Florida rapper, despite Celsius claiming and arguing it had adequately paid Flo Rida for his contributions. In photos snapped by reporter Cathy Russon, Flo can be seen in a Broward County Court Room hugging his lawyer while donning a purple-colored suit.

This unfortunately isn’t the first time Flo Rida has been in a courtroom. Back in 2018, he was ordered to continue paying $9,000 a month in child support payments for his son Zohar – who he’d previously referred to as a “devil child,” and claimed he was “evil.”

Zohar suffers from numerous health issues, including hydrocephalus, a neurological condition that required the child to undergo surgery.

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