Neon Machines settles lawsuit with former investors
1 min read
Summary
Gaming start-up Neon Machine has agreed a settlement with investors who sued the company in 2023 over a lack of equity in the firm.
The case was brought by investors in Neon Media, which had created the game Shrapnel, after the former CEO Mark Long had raised additional funds via a token sale but without providing the investors with an equivalent stake in the company.
The settlement is set to be filed for court approval and, in a statement, Shrapnel CEO Ken Rosman said he was focused on “creating an exceptional experience for players worldwide”.
Shrapnel, a first-person shooter game, is due for release on Epic Games Store in 2025, and currently has over 130,000 player accounts and more than half a million social media followers.