Friday, March 10, 2017

John Carmack Sues Zenimax For $22.5 Million

According to this report, John Carmack has filed a lawsuit against Zenimax claiming that the company still owes him over $22 million for the sale of id Software almost a decade ago.

The lawsuit says ZeniMax agreed to pay $150 million for the purchase. Now, nearly eight years after the sale, it says ZeniMax refuses to pay the final installment of cash it owes Carmack or let him convert it into shares of stock. At the time of the sale, the lawsuit says Carmack was the majority shareholder of id Software and received a convertible promissory note valued at more than $45.1 million. He converted half of that into shares of ZeniMax stock, which he received. The lawsuit asks the court to compel ZeniMax to pay the other half that it owes Carmack, according to the terms of the sale. "Sour grapes is not an affirmative defense to breach of contract," it says.