Beyonce Knowles Is Being Sued For A 100 Million Dollars Courtesy Of Gate Five Gaming Company

We reported sometime back that Gate Five gaming company was after the 32 year old singer but we heard nothing else about this case since we reported. Today we are getting update that the company decided to go full speed ahead to swipe a whoppin' 100 million dollars from Beyonce's account. Checkout the details below-Daddymack!!!!!!!!

According to Gate Five Gaming, it had developed a technology that was better  than the motion-driven video games on the market, that would track a far wider  range of body movements than Nintendo’s Wii, and the game technology was  presented to representatives for top-selling artists including Lady Gaga and the  Black Eyed Peas, who purportedly expressed interest.

Ultimately, the company signed a deal with Beyonce, but the contract had a  termination clause requiring certain financing by a certain date or else the  singer could back out.

Gate Five alleges that it spent $6.7 million on the game and had a financier  lined up to provide $19.2 million in financing when Beyonce exercised her  termination rights, “the hundreds of millions of dollars in profits that Gate  Five could have realized if she had honored the Agreement,” according to the  lawsuit.

According to the ruling, issues of fact remain as to whether Beyonce intended  to forgo her right to terminate the licensing agreement. The appeals court  points to the record showing that she never objected to the loan as it was  closing.