Viacom May Owe Shareholders $383 Million

Viacom May Owe Shareholders $383 Million


For over a year, the shareholders from Harmonix and its former parent company, Viacom, have been locked into a pretty intense lawsuit. According to the filing, Viacom has not been making the bonus payments that it’s contractually obligated to pay shareholders.

A group of resolution accountants appointed by Harmonix has added up the damages and determined that Viacom owes roughly $383 million. Obviously, this amount is still up for debate, especially considering that the last time Viacom paid out bonuses, they instantly turned around and tried to sue the shareholders for a refund.

“The idea that they entered into it with us and then they don’t want to pay it, that’s what the beef is about” said an obviously agitated Walter Winshall. Winshall was formerly a software executive and an early investor in Harmonix.

Not surprisingly, Viacom denies any wrongdoing. “[Viacom has] fulfilled its contractual obligations and our actions were completely appropriate and consistent with the terms of our agreement with Harmonix shareholders and the interests of our shareholders,” said a Viacom spokesperson.

We’ll keep our ear to the ground as the situation shakes itself out, but something tells me that it’s not going to be over any time soon.

By Josh Engen

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