Monster suing Beats and co-founders Dr. Dre and Jimmy Iovine
Not that long ago, Monster made the headphones for Beats. How it got cut out of that process is now the center of a lawsuit against Beats and its co-founders that was filed in a Northern California court this week. The complaint, which was spotted by USA Today,alleges that Beats co-founders Dr. Dre and Jimmy Iovine concealed and slowly cut out Monster and its CEO Noel Lee's involvement on its way to increasing its business and marketing prowess, eventually selling to Apple for $3 billion in a deal made last year.
The complaint goes on to say that the company has a "pattern and practice" to "lure entrepreneurs, musicians, and electronic product developers with promises of growing a business as partners," then turn around and "squeeze the trusting partner out of the equation." That's only after they've plucked things like intellectual property, as well as production and supply secrets, the complaint adds... (To read the entire article, please click HERE)