Welcome to The Forum

Register now to gain access to all of our features. Once registered and logged in, you will be able to create topics, post replies to existing threads

View basic rules for our forums

Beats Music Service Sued By Former Executive Amid Possible Sale To Apple

Ron Burgundy

By Ron Burgundy,
in Tech News

 Share

Recommended Posts

Ron Burgundy Omniscient Member

Ron Burgundy

Posted
Posted

Colombia's track cyclist Edwin Alcibiades Avila Vanegas uses a pair of Beats by Dr. Dre headphones at the Velodrome during the London 2012 Olympic Games(Reuters) - Beats Electronics, which is close to being sold to Apple Inc for $3.2 billion, has been sued by the founder of a music service Beats bought two years ago claiming he has been cheated out of his share of the company. David Hyman, the founder of the music subscription service MOG Inc, filed a lawsuit on Wednesday in Los Angeles superior court claiming he was purposely terminated so that Beats could avoid granting him his equity stake in the company. Hyman claims that as part of the agreement Beats made to buy MOG in 2012, he would have been granted, over a period of time, 2.5 percent of the outstanding equity interest in Beats if the company reached a market value of $500 million or more. Rapper Dr. Dre and legendary music producer Jimmy Iovine, the founders of Beats Electronics, were not named in the lawsuit.




View the full article
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
 Share
Go to topic listing