SouthPeak Interactive officially settles its long-running legal dispute with German publisher CDV Software, according to a press release issued by the company this morning.
According to SouthPeak, both companies have come to an amicable agreement. The company did not disclose the terms of the settlement, but it did say that CDV Software "officially drops all legal claims against SouthPeak Interactive and its subsidiaries." The company also said that the resolution of the dispute alleviates "all alleged financial obligations to CDV."
"We are pleased to have resolved our dispute with CDV, said Melanie Mroz, President and CEO of SouthPeak Interactive in a press release issued today. "This resolution, and the closure of the case by the courts, puts an end to the misleading and inaccurate information circulating in the public regarding these matters, and allows us to re-direct attention toward driving the continued growth of the Company."
Those "misleading claims" alluded to by Mroz, refer to CDV and SouthPeak's very public battle over money awarded by a UK court. CDV Software alleged that SouthPeak owed the company $3.4 million in damages stemming from a lawsuit against SouthPeak and GameCock over breach of contract, and infringement. SouthPeak resolved the case in October, but today's announcement makes it official.
In a mid-October conference call with investors the CEO of the company said that it cost a lot of money to resolve the litigation. Mroz said that the company spent millions related to the CDV case.
Got any tips, corrections, or feedback? Contact GamePro's news team or follow this article's author on Twitter.
Source: http://feedproxy.google.com/~r/GameProVideoGameAnnouncementNews/~3/XAg6HZtOPB8/
No comments:
Post a Comment