Court Finds NCsoft Breached Garriott Stock Option Agreement

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When Richard Garriott was forced by NCsoft to depart the company, NCsoft claimed that Garriott was leaving voluntarily. Garriott claimed that he was forced out of the company while he was still in quarantine after his trip to the International Space Station. As a result, Garriott sued NCsoft for damages resulting from the termination of his NCsoft stock options (he would have retained his options in the event of an involuntary termination). Yesterday, the U.S. District Court for the Western District of Texas handed down a $28 million breach of contract verdict. A jury trial found that NCsoft did, in fact, breach its stock option agreement with Richard Garriott.

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This page contains a single entry by Editor published on July 30, 2010 9:06 AM.

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