It was late last year, around November to be exact, when Viacom sold developer Harmonix (the makers of Rock Band) for $50, it was really only the beginning of the drama to come. Around that time, ex-shareholders in Harmonix prior to Viacom’s buyout of the music game developer sued the conglomerate for failing to pay performance based bonuses, which were agreed upon when Viacom bought the company back in 2006. Then, earlier this year, Viacom sued those same stockholders for $131 million for “contractual overpayment.”
Still with us? Good, because this gets better.
That lawsuit triggered a mandatory arbitration clause in the original contract. Now Viacom has recently revealed to the LA Times that the private arbitrator in question has ordered the company to pay the former Harmonix shareholders a grand total of $383 million.
While the outcome doesn’t look good, Viacom has filed in a Delaware Court to have the judgment overturned because of “improperly excluded” evidence and testimony. We’ll update you with more information as this story continues.