Dr. Dre, Jimmy Iovine Owe $25M In Beats Royalties, Jury Says
By Brandon Lowrey and RJ Vogt (June 27, 2018, 3:03 PM EDT) -- A California jury found Wednesday that Beats Electronics LLC founders Dr. Dre and Jimmy Iovine owe $25.25 million to an entrepreneur who worked on the first model of their iconic headphones, holding that the music moguls breached a contract entitling the early co-creator to royalties.
After four years of litigation, a three-week trial and three days of deliberation at a downtown Los Angeles courthouse, the jurors' ultimate challenge was twofold. They were tasked with deciding whether plaintiff Steven Lamar was a third party beneficiary to a 2007 royalty agreement among Dre, Iovine and a design firm, as well as determining whether that...
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