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Thomas Beekers (Brother None) comment on Gamebanshee appears to sum it up well:
Well, since I got to read a lot of the court documents, I'll note: Interplay was going to lose. Their "license reverts back to Interplay" argument was the only thing they had left, and it was a huge stretch. They could not bring Masthead development in as evidence for financing fulfilled, which means they had no chance whatsoever to win that argument with Bethesda. Everything from the court documents proved they were completely beat, and I doubt they had a lot of money left to keep this fight up.
In fact, they even had to give up the classic titles rights just to get $2 million out of it. And $2 million? Man, they spent a good chunk of that on lawyer fees for this case. This is an unsurprising and complete annihilation.
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