The CEO of technology firm Monster is suing Beats Electronics and its co-founders Dr Dre and Jimmy Iovine for allegedly duping him before selling the headphone company to Apple for $3billion. In the complaint, filed in a California court on Tuesday, Noel Lee, who also founded the video and audio cable maker, accuses rapper Dr Dre and record producer Mr Iovine of double crossing him. Mr Lee - who once held a 5 percent stake in Beats via a Monster-Beats partnership that ended in 2012 - claims the pair deliberately orchestrated a 'sham' deal with smartphone maker HTC in 2011.
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In lawsuit, Monster CEO Noel Lee targets Beats, Dr Dre and Jimmy Iovine
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Says co-founders intentionally orchestrated 'sham' deal with HTC in 2011
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This deal, he claims, led to termination of Monster alliance  two years later
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Mr Lee was 'assured that firm would not be sold for at least several years'
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But last May, Beats was sold to Apple - he would have made $30m-$150m
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California-based suit also targets HTC and Paul Wachter, Beats investor
Both Dr Dre, whose real name is Andre Young, and Mr Iovine, a longtime recording industry executive, reaped the biggest jackpots in the @placeholder deal.