Will.i.am's Co. Ordered To Pay Award To Tech Investors

Law360 (May 21, 2021, 8:51 PM EDT) -- Musician will.i.am's tech company has been ordered to pay up in arbitration with a group of Swedish technology entrepreneurs and investors after it backed out of a deal to buy a wireless headphones startup, according to documents filed in California on Thursday.

The investors urged a federal court in Los Angeles to enforce the confidential award issued against I.Am.Plus Electronics Inc. after the company failed to pay the purchase price for Earin AB in April 2019.

The price was for $25 million, minus certain company transaction expenses and other items, according to the December 2017 share purchase agreement.

Earin, one of...

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