Dr. Dre and Beats Says Monster Still Owes Almost $100 Million In Back Royalties
Beats Electronics isn't done with Monster yet. Not only did they win a lawsuit in court, now they claim their competitor still owes tens of millions of dollars.
The tables have turned against Monster LLC, in the company's legal war against Dr. Dre's Beats by Dre.
Lawyers for Beats claim a three-year audit has found that Monster cheated them out of tens of millions in royalties.
Beats claims Monster owes over $71 million in back royalties, for products that were sold and distributed under a 2012 licensing agreement.
"Despite the considerable sums of money that Monster earned through its contractual relationships with Beats, and despite Beats’ numerous requests to Monster that it comply with the distribution agreement by paying the sums owed to Beats for Beats products it sold, Monster has failed to live up to its contractual promises by failing to pay Beats some $95 million owed under the distribution agreement," the lawsuit states.
The legal wrangling between the two parties started in 2014, shortly after Dr. Dre's Beats Electronics was sold to Apple for $3 billion.
Monster sued Dre, and Beats co-founder Jimmy Iovine, in a nasty lawsuit claiming they deceived founder Noel Lee and Monster out of $30 million in the sale to Apple.
A judge threw the case out last year and ordered Monster to pay damages and lawyer fees.
(Via AllHipHop News)