Managed to make it work, not sure what i did that fixed it:
Reinstalled the game - tried to run game, no effect.
Tried to run the game as admin - no effect.
Deleted a filed, and told steam to validate the game files - tried to run game, no effect.
Found the file "DXSETUP" and told it to update - tried to run game, no effect.
Ran the game as admin again - Game was fixed. tried this before reinstalling the game, but didn't work.
Reinstalled the game - tried to run game, no effect.
Tried to run the game as admin - no effect.
Deleted a filed, and told steam to validate the game files - tried to run game, no effect.
Found the file "DXSETUP" and told it to update - tried to run game, no effect.
Ran the game as admin again - Game was fixed. tried this before reinstalling the game, but didn't work.