Dr. Dre and Jimmy Iovine lose Beats lawsuit, ordered to pay $25M to former partner
Further reports indicate that the Los Angeles superior court jury has ordered the co-founders pay their former business partner Steve Lamar $25.2 million in royalties on the Studio 2 Remastered, the Studio 2 Wireless, and the Studio 3 headphones. The new ruling arrives after the 2007 settlement with Lamar, which granted him royalties for just one pair of the company’s headphones.
The recent settlement follows a long string of legal trouble for the pair. Lamar’s involvement in the Beats project dates back to 2006, where he claims he approached Dre with the idea of headphones endorsed by celebrities. In 2014, Lamar filed the original lawsuit against Dre and Iovine where he originally sought out $100M in damages. In 2016, Lamar’s case was revived by an appeals court after the first dismissed case, and he then sought out $107 million in royalties based on the company’s contractual language.
H/T: The Fader
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