David Hyman, the founder of streaming music service MOG Inc., is suing Beats Audio. He is claiming that he was fired on purpose by Beats so that the latter would not have to give him any equity in the company. Hyman says that as part of the deal in which MOG was sold to Beats, he was promised 2.5% of the company's equity if Beats reached a market value of $500 million.But based on Hyman's court filing, he was fired a year later, which kept him from collecting on the equity. Hyman says that the termination of his employment was done on purpose to keep him from being awarded with the equity. ...
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