Monster Products is Suing Beats Electronics

[PhilSynowiec]

Long before Apple bought out Beats Electronics, the latter company had a partnership with Monster Products. According to a new report, Monster isn't too happy with the way Beats split away from the company and became the success it is today.

The suit was filed on Tuesday, claiming that Monster and CEO Noel Lee helped Jimmy Iovine and Dr. Dre with designing and engineering the headphone line. Lee claims that he and his company also educated Dre and Iovine on manufacturing, engineering, distributing and more. Lee added that Monster lost millions when Apple decided to buy out Beats.

Beats and Monster split back in 2012 and in 2013 HTC put about $300 million into Beats. Once Beats became even more of a success, Dr. Dre and Jimmy Iovine bought it back from HTC.