Clients with major transactions routinely face shareholder and other litigation seeking to block or enforce a deal. As experienced and business-savvy litigators, we are able to fend off many such cases, often breaking new legal ground in the process.
Paul, Weiss Knocks Out Delaware Suit Over Harmonix Deal
As reported in The American Lawyer, Paul, Weiss client Viacom prevailed in a dispute over earn-out payments to selling stockholders of Harmonix Music Systems, developer of the "Guitar Hero" and "Rock Band" video games. The selling stockholders' representative sued Viacom and Harmonix, alleging that after Viacom and Harmonix merged, they purposefully renegotiated a third-party distribution contract so as to reduce the earn-out payments payable to the selling stockholders. Chancellor Strine granted defendants' motion to dismiss for failure to state a claim, finding the claims that the stockholders were shortchanged to be "absurd."
The Paul, Weiss team included litigation partners Stephen P. Lamb, Daniel J. Leffell and Leslie G. Fagen.
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