Send News. Want a reply? Read this. More in the FAQ.   News Forum - All Forums - Mobile - PDA - RSS Headlines  RSS Headlines   Twitter  Twitter
Customize
User Settings
Styles:
LAN Parties
Upcoming one-time events:

Regularly scheduled events

Harmonix Shareholders Sue Viacom

Gamasutra has word that a group of former shareholders of developer Harmonix (Rock Band) filed a lawsuit in a U.S. court last week against parent company Viacom accusing them of attempts to get out of paying performance-based bonuses. The suit accuses Viacom, who are looking to sell Harmonix, of manipulating distribution costs to reduce bonus payouts. Word is they: "decided to forego the opportunity to reduce EA’s distribution fees during 2008 (or in any other way enhance Harmonix’s net income or Gross Profit for 2008), and instead demanded benefits for itself (rather than Harmonix) in exchange for allowing EA to continue distributing Rock Band." The suit goes on to say: "Although a reduced 2008 EA distribution fee would have increased Harmonix's gross profit and operating profits in 2008, Viacom realized that every $1.00 of distribution fees that Harmonix saved during 2008 would require Viacom to pay an additional $3.50 of earn-outs to the [ex-shareholders]."

Email Digg Facebook Twitter   Share More    


 

  
   Current Headlines
Tales of Symphonia for PC Announced
Heroes of the Storm Map Hack Allegations
Batman Console DLC This Month
Steamship Ahoy - Vector Thrust
Sword Coast Legends Videos
AntharioN This Month
NOTGTAV (Really) Released
Independent Patches
Independent Crowdfunding Roundup
Gatherings & Competitions
Independent Interviews
Independent Consolidation
Independent Metaverse
Independent Tech Bits
Independent Safety Dance
Independent Legal Briefs
Game Reviews
Hardware Reviews
etc.
Out of the Blue
  

 



footer

Blue's News logo