Dr. Dre and Jimmy Lovine is being sued

3-Dre.Iovine
Steve Lamar a former hedge-man has filed suit against Dr. Dre, Jimmy Lovine, and others.  Lamar is suing Lovine, Dre, Beats, Petagram and H&A for breaching the terms of the settlement agreement and royalty agreement. He is seeking a 4% royalty rate for sales of Beats Electronic headphones. In his filing it say in 2006 Lamar took the concept of celebrity endorsed headphones to Lovine.  Beat Electronics signed with Monster, LLC for distribution.  Lamar say that Dre and Lovine were to get a 20% royalty and Lamar and his company Jibe Audio 5% royalty. Also in 2006 Dre and Lovine filed a lawsuit against Lamar, Jibe and Pentagram (design headphones)accusing them of not living up to their contractual obligation and of planning to release their own line of "Beats" headphones without Dr. Dre.  The case has been settled, Dre and Lovine agreed to pay Lamar and his co-defendants a 4% royalty on certain of headphones.  Here is a copy of Lamar cross-filing against Dr. Dre, Jimmy Lovine and Beats Electronics

 

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