Viacom Breached $175M Harmonix Merger Deal: Suit

Law360, New York (December 16, 2010, 8:43 PM EST) -- A putative class of shareholders of "Rock Band" maker Harmonix Music Systems Inc. has accused Viacom International Inc. of failing to make required payments in breach of a $175 million agreement to acquire the video game company and improperly demanding indemnity for patent suits involving Harmonix products.

The suit, filed Wednesday in the Delaware Court of Chancery on behalf of all former Harmonix shareholders, came shortly after Viacom announced in November that it planned to sell off Harmonix amid plummeting sales and had classified the unit...
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