(Reuters) ? Viacom Inc said it has challenged the final payout due to former shareholders of music-based games developer Harmonix Music Systems, which it had acquired in 2006.
A private dispute resolution process on December 19 determined that Viacom, the company behind MTV and Paramount Pictures, owed an additional $383 million as compared to the $700 million sought by the former shareholders.
On Tuesday, Viacom said it filed a suit in a Delaware court seeking to compel the resolution accountants to consider arguments and evidence that were improperly excluded and to vacate their determination on the grounds of manifest error.
The final outcome of the case will be reflected in discontinued operations for the first quarter of 2012, the company said in a regulatory filing.
In 2010, Viacom sold Harmonix, the maker of the Rock Band franchise, to investment firm Columbus Nova, ending a failed foray into the video game business.
Viacom shares closed at $45.25 on Tuesday on Nasdaq.
(Reporting by Ranjita Ganesan; Editing by Sriraj Kalluvila)
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