Beats Electronics LLC, founded by rapper Dr. Dre, won’t face claims for fraud and deceit lodged by the company licensed to manufacture the headphones, a California appeals court affirmed Tuesday.
A 2009 licensing agreement between Beats and Monster LLC dictated the terms of manufacturing and distributing Beats by Dr. Dre headphones, and granted Monster 5% ownership in the company, which was designated to CEO Noel Lee.
A provision of the agreement allowed Beats to terminate it in case of a control change, which it did in 2011, following HTC America’s purchase of a 51% interest in Beats for $300 million. ...
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