- 29 Jun 18
The two co-founders of Beats Headphones have lost a lawsuit forcing them to pay out a staggering $25M over a royalties dispute.
The jury sided with their former business partner Steven Lamar. In his lawsuit, Steven Lamar claimed that he approached Dre “with the idea for celebrity-endorsed headphones" back in 2006.
Iovine and Dre argued that Lamar was only entitled to royalties from the first headphone model, Beats Studio.
But the jury ruled this week that Lamar was owed royalties on three models of Beats—the Studio 2 Remastered, the Studio 2 Wireless, and the Studio 3—resulting in the $25.2 million pay out.