Beats By Dre founders, Dr. Dre and Jimmy Iovine‘s bank account just took a hit after an L.A. jury ordered the duo fork over $25 million to an ex-business partner.
The jury sided with Steven Lamar and awarded him $25,247,350 who claimed that the moguls owed him for work he did on three (3) models of Beats headphones.
TMZ exclusively reports:
According to court docs, obtained by TMZ, an L.A. jury awarded Steven Lamar a whopping $25,247,350 Wednesday … after ruling the music moguls hadn’t paid him for design work he did on 3 models of Beats headphones — the Studio 2 Remastered, the Studio 2 Wireless and the Studio 3.
Dre and Jimmy had previously argued Lamar was only owed royalties on the first model. Lamar sued and the jury agreed he had fulfilled his end of the bargain with the Beats honchos.
Might have been cheaper to pay the man up front, we are definitely sure that Dre and Iovine’s heads were both ringing after that judgment came down.
Photo: Kevin Winter / Getty