Apple hasn’t acquired Beats Electronics and Beats Music yet, but there’s already a related lawsuit. Back in 2012, Beats bought streaming music service Mog to use as the base for what eventually became Beats Music (Bulletin, 2-Jul-12). Now Mog founder David Hyman is suing Beats demanding damages “in excess of $20m” according to The Wrap, in a lawsuit claiming he was fired by Beats before his one-year anniversary at the company, when he would have been due equity promised to him as part of the acquisition. The lawsuit claims Hyman’s decision to fire a “problematic” employee was cited as the cause for his departure: “To prevent plaintiff to remain employed by the Company long enough for his equity grant to vest, the Company terminated Plaintiff when he attempted to exercise his contractual right under the Hiring and Retention Provision to dismiss the Problematic Employee”. With Apple rumoured to be paying $3.2bn for Beats, if Hyman had received a 2.5% equity stake in Beats under the terms of his deal, it’d be worth $80m now.
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Tools: Kaiber
In the year or so since its launch, AI startup Kaiber has been making waves,…