Viacom Can't Claim IP Indemnity From Harmonix Shareholders

Law360, New York (December 12, 2012, 7:24 PM EST) -- A Delaware judge on Wednesday granted summary judgment to a group of Harmonix Music Systems Inc. stockholders who accused Viacom International Inc. of improperly demanding indemnity for patent suits as part of the companies' $175 million merger agreement.

Chancellor Leo E. Strine Jr. ruled that Harmonix shareholders don't have a duty to pay Viacom's defense costs in patent litigation brought against Viacom over Harmonix's video game "Rock Band" because the litigation is not covered by the 2006 merger agreement.

"Viacom's argument that the Harmonix stockholders have...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.