Tidal Files Suit Against Aspiro (original owner) et al.

Jay is a liar, he knew exactly what he was getting into and not all of the shareholders of Tidal were on board for Jay to be the face of Tidal
A group of minority shareholders in Aspiro grouped together to try and block the deal. Investors who together owned just over 10% of the company issued a statement saying that they would not authorise an acquisition by Jay Z: "We will recommend our members say no to the offer. We have accumulated more than 10 percent of the owners, which is enough to block it."
But Fredrik Bjørland, chairman of Aspiro's committee for the Project Panther bid, hit back at the minority shareholders, explaining that accepting Jay Z's offer was the only way the company could continue:
In my opinion, the recommendation to not accept the offer involves high risk, as it is well known that Aspiro is currently unprofitable and in need of capital within 12 months, and the current majority shareholder has indicated it is not willing to support this capital need. We thus believe accepting a 60% bid premium is a far better risk/reward recommendation.
Eventually the minority shareholders gave in. "We have together with the major shareholders decided that it is best to accept the bid," they said in an emailed statement. That left the path clear for Jay Z to move forward and complete his acquisition of Aspiro, which happened at the end of March.