Red 5 Studios and Webzen to End All the Legal Dispute
Date: 10-02-2011 Views:
It is known that the dispute between Red5 Studio and Webzen has lasted for a long time. Back in earlier July, Red5 Studios filed a lawsuit against Webzen, asking for a compensation of USD 5 million. Now, a result is finally coming out. Red 5 has announced that it has reached an agreement with Webzen to end all the legal disputes between them, including withdrawal of all pending legal claims against the other.
According to the press release provided by Red 5 Korea, "Webzen will receive compensation for the prior development fees paid to Red 5 and also will share in future revenue generated from Red 5's game entitled Firefall for a certain period of time. Red 5 and its affiliated company received the global publishing rights under the settlement agreement. Webzen will no longer be involved in marketing and publishing Firefall in any territory as a result of this agreement."
Mark Kern, CEO of Red 5 Studios said, "Given the resolution of all disputes and conflicts between our two companies I would like to ask for our fans, especially Chinese and Korean gamers,' continuous encouragement and support in Firefall and Red 5."