22 Sep

Over $150 million hangs in the balance in the aftermath of MTV’s selling off of Harmonix earlier this year. MTV’s parent company Viacom has taken the former shareholders of the Rock Band studio to court over a refund of the bonus payments given out at Harmonix’s initial acquisition. Viacom is asking for $131,827,980 of the $149,770,149 paid (or 88%), claiming an incorrect calculation of the funds upon initial dispersal.

This is the latest in a long line of legal action between the two companies. Viacom submitted a similar lawsuit last year – asking for only a partial refund – to which Harmonix filed their own suit alleging improper fiscal management on the part of the parent company, with demands for more bonus payments. Viacom publicly denied the claims, shortly after which Harmonix was sold to the investment firm Columbus Nova.

(via The Hollywood Reporter)

One thought on “Viacom Brings Ex-Harmonix Shareholders to Court for Refund”

  1. Whoever miscalculated $18 million for almost $150 should be fired.

    Not sure what kind of legal ground Viacom has as they made the payments and they would have to seriously prove that the original offering was only $18 million. Trying to get that money back from investors is going to take quite a bit of effort.

Comments are closed.