Monday, June 25, 2018

Beats' Founders Dr. Dre, Jimmy Iovine In Court Over Headphone Design

Dr. Dre and Jimmy Iovine, the founders of Beats Electronics, the onetime Santa Monica headphone-and-music-service, are in the midst of a lqsuit--and likely, a jury decision--over a lawsuit which claims Dr. Dre and Iovine owes royalties to a businessman work worked with the company back in 2005 and 2006. According to reports, a jury began deliberations Friday on the case, which was filed in 2016 by former business partner Steven Lamar. The royalty dispute is over whether the royalty agreement between Lamar, Dre, and Iovine only coverd the first version of the Beats' headphones, or all subsequent designs. Beats' was acquired by Apple in 2014, for approximately $3 billion.