Harmonix hits a high note and wins $299 million

Harmonix has won its lawsuit against Viacom regarding unpaid bonuses and the Delaware Supreme Court ruled that Viacom must pay $299 million to the studio’s former stockholders. Polygon has the summary of the court decision.

MTV Networks, a subsidiary of Viacom, purchased Harmonix in September 2006 for $175 million, and Viacom ended up selling the studio in December 2010. The terms of the acquisition included “earn-out” payments to be made to Harmonix’s former stockholders, depending on the studio’s performance in 2007 and 2008.

Viacom paid Harmonix bonuses of $150 million in 2007, but determined that it owed the stockholders nothing in 2008 and later sought a refund of its earlier payment.

Unless Viacom appeals to the to the U.S. Supreme Court, the decision will stand.