Dr. Dre, the founder and creator of Beats By Dr. Dre has been sued by Noel Lee, the founder of audio cable maker Monster, a former partner of Beats.
Beats By Dre founder sued by former partner
The Aftermath CEO is being sued by his former partner Monster for tricking them into believing that Beats wasn't going to be sold anytime soon.
The company has filed a legal complaint against the legendary Hip Hop producer and his partner Jimmy Iovine for duping him into terminating their association before the company was acquired by Apple for $3bn.
Monster played a fundamental role in designing of the original Beats By Dre headphones.
Noel Lee claims that Dr. Dre and Jimmy Iovine created a 'sham' deal with phone maker HTC in 2011, which in turn led to the termination of contract between Beats and Monster.
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"His suit alleges the deals caused him to cut his stake to 1.25%, before selling his holdings for $5.5m in autumn 2013. He says he was told there were no plans to sell the company for several years" according to Forbes.
Lee says the sale of Beats to Apple cost him a fortune, and he would have made $150m if he had kept his 5% stake in the company.
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