The Wall Street Journal has run an article based on recent court documents filed by Adrian Carmack, an owner, director, and artist at id Software. Carmack alleges that the other four co-owners of id "fired" him for their own profit. He states that the other co-owners forced him out of the company by closely monitoring his hours, taking away his privileges, and denying him access to board-related documents. They also ceased to redistribute profits as dividends in 2004. Carmack owns 41% of id Software and is being forced to sell his shares for $11 million under a contract that he fighting to make void. This is merely a fraction of what he could receive if id Software was ever bought. Activision was contemplating buying the developer last year for $105 million.
Carmack is arguing that the owners deliberately rejected Activision’s offers so they could fire him and acquire his shares for a fraction of what the publisher would have paid him for them.
We will keep you posted as more unfolds.