A former executive of Beats Electronics is suing the earphone maker as a US$3.2 billion acquisition deal with Apple reportedly nears. The founder of the music service that Beats acquired two years is suing the company for what he claims is his share.
Digital-music entrepreneur David Hyman was the founder and former chief executive of music service Mog which was purchased by Beats – and was briefly offered in Australia by Telstra.
He is seeking $20 million in damages from Beats claiming he was offered 2.5 percent of the music service’s outstanding equity but was fired before his shares vested.
Beats has continued to operate Mog as a separate service but will shut it – in June.
