[Alpha Biz= Paul Lee] KRAFTON Inc. announced on July 24 that it has been sued by a former representative shareholder of its U.S.-based subsidiary, Unknown Worlds, the developer of the ocean adventure game Subnautica.



According to the company, the plaintiff filed the lawsuit with the Delaware Court of Chancery, claiming damages amounting to approximately KRW 344.775 billion (USD 250 million). This figure corresponds to the maximum potential earn-out payment stipulated in the stock purchase agreement (SPA).



The claims include the full earn-out under the SPA, additional damages to be proven in court, and a request for a court order compelling KRAFTON to fulfill its contractual obligations.



KRAFTON stated, “We plan to actively respond to the plaintiff’s claims through legal counsel and in accordance with appropriate legal procedures.”



Previously, Charlie Cleveland, a founding member and former CEO of Unknown Worlds, revealed on the online platform Reddit that he had filed the lawsuit jointly with co-founders Ted Gill and Max McGuire against KRAFTON.



Unknown Worlds was acquired by KRAFTON in 2021 for USD 50 million. The studio gained international recognition with its 2018 hit title Subnautica, and is currently developing the sequel, Subnautica 2.



However, following delays in the development of the upcoming title, tensions escalated between the parties. Earlier this month, KRAFTON dismissed Cleveland and the other founding members, leading to an international legal dispute.



A KRAFTON representative commented, “We are disappointed that the plaintiffs have chosen to pursue litigation for personal financial gain. Nevertheless, through this legal process, we intend to protect the company and our fans by clarifying the facts and determining responsibility.”

 

 

 

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