Viacom Sues Over $383M Award To Harmonix Investors

Law360, Wilmington (January 3, 2012, 6:33 PM EST) -- Viacom International Inc. has asked a Delaware court to throw out an arbitrator’s finding that the media giant owes $383 million under a merger agreement to the former shareholders of Harmonix Music Systems Inc., according to a complaint unsealed Friday.

Viacom acquired Harmonix, creator of the “Rock Band” and “Guitar Hero” video games, in 2006 for $175 million plus future “earn-out” payments based on profits from the games. A dispute arose over the extent of the additional payments and, on Dec. 19, an independent arbitrator —...
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