After making billions in a major deal between Apple and Beats headphones, Dr. Dre is hit with a $20 million dollar lawsuit.
According to TheWrap, an employee of Dr. Dre Beats was hiried and deliberately fired before he was able to collect his hands on the Apple payout.
Dre and Jimmy Iovine’s Beats Electronics is named in a lawsuit filed by David Hyman, the founder of online music subscription service MOG, who says that he was fired before he could receive the benefits of his incentive plan after MOG was purchased in 2012 [TheWrap].
Hyman argues in his lawsuit that he is rightfully owed a portion of the deal between Apple and Dr. Dre beats. But, instead of paying him, Dr. Dre decided to fire the partner. “The suit also claims that he was promised a grant of 25 percent of the company’s outstanding equity interests following adoption of the incentive plan if the company achieved a fair market value of $500 million or more.[via]”
For the full article, click here. It is an interesting look at how contract details can go a long way and amount to a lot of money.