Looks like Monster Audio company wants a piece of that Apple…..According to a new lawsuit, Dr Dre and Jimmy Iovine “betrayed” and “defrauded” millions of dollars from Monster, the company responsible for the designing Beats by Dre headphones. In a lawsuit filed in San Mateo County Superior Court Tuesday, Monster CEO Noel Lee said that his company was betrayed by Beats Electronics, the company behind “Beats By Dr. Dre” headphones, when the two companies parted ways in 2012, and that Beats has gone on to try to erase Monster’s contribution to its headphones.
After severing ties with Monster, Beats was purchased by Apple for $3 billion. But as the Beats co-founders made millions, Monster lost millions from its investment in the rise of Beats, the suit charges. Had Lee retained his original 5% interest in Beats, his total stake in the Beats-Apple deal would have been worth over $100 million, the suit alleges.
Wonder how Apple will respond to this claim…..stay tuned