Viacom Wants $132M Refund From Harmonix Investors

Law360, New York (September 16, 2011, 7:51 PM EDT) -- Viacom International Inc. sued about 100 former Harmonix Music Systems Inc. stockholders in Delaware state court Friday, seeking the return of $132 million that Viacom says it overpaid when it acquired the maker of the “Guitar Hero” and “Rock Band” video games in 2006.

Viacom paid nearly $150 million based on an initial calculation of a contractual earn-out payment under the merger but has since determined that it should only have paid $18 million. Now, it wants Harmonix shareholders to return the difference, according to the...
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