TimeGate may lose $7.3 million and Section 8 license

, | Games


Polygon reports that TimeGate Studios lost an appeal last week against publisher SouthPeak Interactive and may have to give up the rights to the Section 8 property as well as pay $7.35 million in damages. The decision came from the U.S. Court of Appeals for the Fifth Circuit following a prior federal ruling stemming from a lawsuit begun in 2009.

TimeGate staff met yesterday to discuss the future of the company and its recently announced project, Minimum, in light of the decision, a source familiar with the matter told Polygon today.

Watch the announcement video for Minimum here.