Monster's lawsuit against Beats Electronics last January has come back to bite it now that Beats is an Apple subsidiary. The Wall Street Journal reports that Apple has killed Monster's official licensing agreement deader than that reported Beats WiFi speaker. Monster has been producing licensed accessories (lightning cables, headphones and whatnot) since 2005. Plus, it's reportedly paid more than $12 million in licensing fees since 2008 for the honor of selling "Made for iPhone/iPod/iPad" devices, some of which retailed in Apple stores.
Chief counsel for Monster, David Tognotti, told the Wall Street Journal that Apple terminated the companies' agreement on May 5th citing it no longer being "mutually beneficial" due to the lawsuit. The lawsuit itself stemmed from Monster CEO Noel Lee accusing Beats' co-founders Jimmy Iovine and Dr Dre of fraud regarding the potential proceeds of its sale to Apple. The lawsuit is ongoing. Monster will continue to sell of its remaining stock of products until September. "It shows a side of Apple that consumers don't see very often," Tognotti told the WSJ. "Apple can be a bully."
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