Viacom Owes Harmonix $300 Million, Court Rules (Again)

Viacom Owes Harmonix $300 Million, Court Rules (Again)

Viacom/Harmonix combined logos

The Delaware Supreme Court has affirmed that Viacom owes roughly $300 million to former shareholders of Rock Band studio Harmonix.

Viacom's effort to dodge a $300 million payout to former shareholders of a company it unloaded in 2010 has suffered another blow thanks to a Delaware Supreme Court ruling affirming that the company does in fact owe the money. That ruling affirms previous similar rulings by both an arbitrator and a Delaware Circuit Court judge which had granted the former Harmonix shareholders $299 million in "earn-outs," plus interest.

The dispute between Viacom and Harmonix has been ongoing since September 2011, when Viacom sued former Harmonix shareholders in an attempt to get back nearly 90 percent of the $150 million in bonuses it had paid out in 2007. The suit claimed that money had been paid out based on preliminary calculations and that the actual amount owed was more like $18 million; Harmonix shareholders, meanwhile, filed a suit of their own, claiming that Viacom had cooked the books to minimize the amount it owed and was withholding bonus payments for 2008.

The matter went to arbitration, where it was decided that Viacom owed $383 million to the former shareholders. Harmonix appealed that decision to a Delaware court and lost, and now it's lost again. Viacom still has options, including an appeal to the U.S. Supreme Court, but given how the wheel has turned so far it looks like sooner or later it's going to be cutting a pretty fat check.

Source: Hollywood Reporter

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About time. Viacom's one of the worst copyright trolls, it's good to see them taken down a notch. I know for a corporation that big $300 mil is pocket change, but it still shows that they can't get away with just suing anyone they want.

There's a typo there. I think it should say Viacom appealed that decision, not Harmonix like it does now.

Viacom, the scummiest company on earth, after EA of course, has to now pay 300 million to a developer they stiffed hard. Justice does exist in the world after all.

$300 million is a LOT of plastic guitars! I bet someone at Viacom is wishing they had just accepted the $100+ million loss earlier. Oh well, the CEO will just have to settle for a few tens of millions dollars as his bonus this year instead of that army of gold-plated, bejeweled hookers.

Andy Chalk:
...where it was decided that Viacom owed $383 million to the former shareholders. Harmonix appealed that decision to a Delaware court and lost, and now it's lost again.

You mean Viacom here, right? I was confused for a bit on why Harmonix would try to appeal a decision that they got....

Ah nothing like seeing some Copyright trolls getting some karma done to them. I remember in the past I actually got claimed on one of my LP videos from Viacom and it was a video from a Nintendo game, my Luigi's Mansion LP. Luckily I won the dispute and haven't had any issues from them since, but I do remember that back when Ratchet and Clank Future A Crack in Time first came out they claimed all the videos being put up on YT and had many of them taken down because the LPer I watch, ScottishDuck17, had his videos taken down because of Viacom.

Others have pointed it out, so I'll add my voice:

The matter went to arbitration, where it was decided that Viacom owed $383 million to the former shareholders. Harmonix appealed that decision to a Delaware court and lost, and now it's lost again.

You mean Viacom appealed, right?

OMG the super rich are sueing the simply rich for obscenes amounts of cash!!! Sorry Nathanial the third no 2nd yacht this year... the humanity...
*snore*

 

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