We’ve seen some tough rap battles in our day (not in person, but 8 Mile counts, right?), but none may be greater than the one City National Bank is posing. These guys mean business.
The CNB has filed a lawsuit against Konami, stating that the publisher hasn’t paid the $14 million loan it used alongside Autumn Games to create the hit singing game Def Jam Rapstar, which came out well over a year ago for Xbox 360 and PlayStation 3.
The bank is stating that Konami promised to pay back the bank for the loan using funds that were earned from the game, but it’s insisting that it never received a dime.
The complaint reads, “Rather than paying game-related proceeds directly to CNB as agreed, defendant have kept all game-related proceeds for themselves and have refused to remit any such proceeds to CNB.”
The bank is seeking $8.9 million in damages, and also believes Konami made “unrealistic predictions” that the game would sell 2.5 million units. According to the statement, the bank says that Konami insists it is not entitled to make payment.
Hang on, folks. This could get ugly.
Published: May 24, 2012 05:18 pm