Was the Millions 50 Cent Made from Tweeting on Stock Illegal?

In Business Law, Legal News by FASHIONENTLAW™

No Gravatar

Interesting article on Findlaw Celebrity blog. Many, I would say, despise when the rich flaunt their wealth so callously. In 50 Cent’s case, he is very in your face about it. I mean how much flaunting does it get than his “I Get Money” and  “have a baby by me, be a millionaire” songs, right?

Such flaunting, I guess, can cause some to question the authenticity of his wealth or suggest wrong doing when he tweets to his fans about his massive wealth and business ventures. The SEC is remaining silent as to this but they are probably investigating right about now. Get caught up on the story I am referring to below:

“50 Cent is known in the industry as not only a talent musician, but also as a shrewd businessman. He is said to have made over $100 million in his partnership with Vitamin Water.

But now the rapper may be under fire for using his Twitter account to hype up the stock price of H&H Imports. “HNHI is the stock symbol for TVG there launching 15 different products. they are no joke get in now,” one tweet read. Another read, “one of the 15 products this year. If you get in technically I work for you. BIG MONEY.”

H&H is a small company in Florida that also owns TV Goods, a company that markets products in infomercials. After 50 Cent tweeted about H&H to his 4 million followers on Twitter, their stock rose 290 percent. That resulted in a potential profit of $5.2 million for 50 Cent, who owns 7.5 million shares of the company, the Rolling Stone reports. . .” Find Law Blog has the full story.


WHAT IS Fashionentlaw™: It is a law blog discussing hot topics in pop culture that arise primarily out of the fashion industry and intersects/ collides with the law. WHAT I DO: My name is Uduak Oduok and I am a California licensed attorney who helps creatives and business owners sleep better at night by protecting their creativity and reputation, securing their rights, and helping them with the monetization of their intellectual assets. WHO I WORK WITH: I have counseled a range of clients from musicians, models, actors, actresses, and designers, to diverse business owners in numerous areas of the law including contracts, business law, fashion and entertainment law, copyright, trademark, and intellectual property law. I bring over two decades of first-hand knowledge and experiences that are as diverse as they are deep in the fashion and entertainment industries (modeling, retail, production, public relations, journalism, and publishing). I am an attorney who “gets it” when it comes to resolving legal issues for the fashion and entertainment industries. INTERESTED IN TALKING TO ME ABOUT LEGAL REPRESENTATION? To arrange a consultation to discuss your case, contact me today at 916-361-6506 or email me directly at (uduak@ebitulawgrp.com). Full bio: Ms. Uduak Bio/ Twitter @uduaklaw

Related Post