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According to a report L.A. Noire developer Team Bondi have had to sell their assets to production company Kennedy Miller Mitchell despite good sales for the game. The employees have been given a choice of taking a job at Kennedy Miller Mitchell or accepting severance pay. Kennedy Miller Mitchell is currently run by God of War 2 director Cory Barlog, who's said to be working on a Mad Max game which will release alongside the new movie thats currently in production. The L.A. Noire IP hasnt been sold to them though as it has came out that it is owned by publishers Rockstar. Not clear at the moment if Team Bondi will continue to operate as a development studio. All this after reports of a huge fallout with Rockstar and reports about poor working conditions and unfair work policies as well as reports they are on the verge of bankruptcy.
Such a shame as i thought L.A. Noire was a great game and had lots of potential for future releases as well as sequels. Makes me wonder what will happen to the Motion Scan technology they used for the game and who will have the rights to that if Team Bondi do go bankrupt.