Featured Articles

AMD SVP John Byrne named turnaround exec of the year

AMD SVP John Byrne named turnaround exec of the year

Director of AMD’s PR Chris Hook has tweeted and confirmed later in a conversation with Fudzilla that John Byrne, Senior Vice…

More...
Shield Tablet 8 launching on Tuesday July 22nd

Shield Tablet 8 launching on Tuesday July 22nd

We knew the date for a while but as of right now we can confirm that Nvidia’s new Shield Tablet 8,…

More...
AMD confirms 20nm in 2015

AMD confirms 20nm in 2015

Lisa Su, Senior Vice President and Chief Operating Officer, AMD, has confirmed what we told you back in May 2014 – …

More...
AMD reports loss, shares tumble

AMD reports loss, shares tumble

AMD’s debt load is causing huge problems for the chipmaker -- this quarter it had another substantial loss. The tame Apple Press…

More...
AMD A8-7600 Kaveri APU reviewed

AMD A8-7600 Kaveri APU reviewed

Today we'll take a closer look at AMD's A8-7600 APU Kaveri APU, more specifically we'll examine the GPU performance you can…

More...
Frontpage Slideshow | Copyright © 2006-2010 orks, a business unit of Nuevvo Webware Ltd.
Wednesday, 20 June 2012 08:21

uDraw draws up lawsuits for THQ

Written by David Stellmack

thq logo

Three firms file class action suits

The saga of THQ’s failed uDraw franchise has drawn the ire of three different law firms, who have each filed class action suits against the publisher. The grounds for the suits seem to be based in allegations that THQ violated federal securities law over the handling of the failed uDraw title franchise and the uDraw GameTablet peripheral.

These lawyers all believe that THQ made “false and misleading statements,” when briefing investors about the expected sales from the Xbox 360, PlayStation 3, and Wii versions of uDraw’s titles and GameTablet. While sales for the Wii version of the uDraw tablet in early 2011 seemed good and the idea of bringing the franchise to the Xbox 360 and PlayStation 3 seemed like an even better idea, it didn’t end up that way; $30 million in losses forced THQ to kill the entire franchise.

While all three firms are looking to recover damages for shareholders who purchased THQ stock between May 2011 and February 2012, this is a problem that THQ does not need while it continues to fight for its survival. The law firms involved in the class action suits are seeking other affected shareholders and asking them to become a part of the class action suit.

Just when we think THQ might catch a break and things might be on the uptick for the publisher, a new problem always seems to arise to drag THQ back down. We will have to see where the lawsuits lead, but it could spell some serious trouble for THQ.


blog comments powered by Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments