Featured Articles

IHS teardown reveals Galaxy S5 BOM

IHS teardown reveals Galaxy S5 BOM

Research firm IHS got hold of Samsung’s new flagship smartphone and took it apart to the last bolt to figure out…

More...
Galaxy S5, HTC One M8 available selling well

Galaxy S5, HTC One M8 available selling well

Samsung’s Galaxy S5 has finally gone on sale and it can be yours for €699, which is quite a lot of…

More...
Intel lists Haswell refresh parts

Intel lists Haswell refresh parts

Intel has added a load of Haswell refresh parts to its official price list and there really aren’t any surprises to…

More...
Respawn confirms Titanfall DLC for May

Respawn confirms Titanfall DLC for May

During his appearance at PAX East panel and confirmed on Twitter, Titanfall developer Respawn confirmed that the first DLC pack for…

More...
KFA2 GTX 780 Ti Hall Of Fame reviewed

KFA2 GTX 780 Ti Hall Of Fame reviewed

KFA2 gained a lot of overclocking experience with the GTX 780 Hall of Fame (HOF), which we had a chance to…

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

To be able to post comments please log-in with Disqus

 

Facebook activity

Latest Commented Articles

Recent Comments