Beats ordered to pay ex-business partner $25M

A jury ruled Wednesday that Beats Audio LLC must pay one of its former business partner $25 million for unpaid royalties.

Dr. Dre, right, and Jimmy Iovine at a 2011 launch event for Beats headphones in New York.

Beats Audio LLC must pay one of its former business partners $25 million for unpaid royalties, a Los Angeles County Superior Court jury concluded Wednesday.

The jury found Beats entered into an agreement with Steven Lamar, a former hedge fund manager who claims he came up with the concept for a high-end line of headphones paired with a high-profile celebrity endorsement. Under that agreement, Lamar was to be paid for "any headphones...

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Jun. 28, 2018

Beats ordered to pay ex-business partner $25M

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