Audio equipment maker Monster sues Beats over alleged fraud
January 7, 2015 8:40 am
udio equipment maker Monster LLCsued Beats Electronics LLC over alleged “fraud and deceit” in the way that Beats acquired control of the rights to the popular “Beats by Dr. Dre” headphones.
Monster and Beats formed their partnership in 2008 and developed “Beats by Dr. Dre”, a line of colorful, high-end headphones competing with the likes of Skullcandy Inc and Bose Corp.
According to the suit filed in San Mateo (Calif.) County Superior Court on Tuesday, Monster engineered the success of the headphones and was unfairly cut out before Beats was sold to Apple last year.
The complaint names Beats co-founders Jimmy Iovine and Dr. Dre as well as HTC America Holdings Inc, a unit of Taiwanese smartphone maker HTC Corp (2498.TW) among others, as defendants.
Iovine is the co-founder of Interscope Records, a rap music pioneer that branched out to include acts like Lady Gaga and U2. Dr. Dre is a U.S. rapper and music producer.
The defendants fraudulently acquired Monster’s “Beats By Dr. Dre” product line including all development, engineering, manufacturing, marketing, distributing and retail rights, via a “sham” transaction with HTC, according to the complaint.
The suit alleges Iovine and Dr. Dre “improperly erased” Monster and Monster’s founder Noel Lee from Beats’ history.
The material has been provided by InstaForex Company – www.instaforex.com
udio
equipment maker Monster LLCsued Beats Electronics LLC over alleged
“fraud and deceit” in the way that Beats acquired control
of the rights to the popular “Beats by Dr. Dre” headphones.
Monster and Beats formed their partnership in 2008 and developed
“Beats by Dr. Dre”, a line of colorful, high-end headphones
competing with the likes of Skullcandy Inc and Bose Corp.
According to the suit filed in San Mateo (Calif.) County Superior
Court on Tuesday, Monster engineered the success of the headphones
and was unfairly cut out before Beats was sold to Apple last year.
The complaint names Beats co-founders Jimmy Iovine and Dr. Dre as
well as HTC America Holdings Inc, a unit of Taiwanese smartphone
maker HTC Corp (2498.TW)
among others, as defendants.
Iovine is the co-founder of Interscope Records, a rap music pioneer
that branched out to include acts like Lady Gaga and U2. Dr. Dre is a
U.S. rapper and music producer.
The defendants fraudulently acquired Monster’s “Beats By Dr.
Dre” product line including all development, engineering,
manufacturing, marketing, distributing and retail rights, via a
“sham” transaction with HTC, according to the complaint.
The suit alleges Iovine and Dr. Dre “improperly erased”
Monster and Monster’s founder Noel Lee from Beats’ history.
The material has been provided by InstaForex Company – www.instaforex.com