Wed, Jul 18, 2012 | 00:03 BST
THQ threatened with class-action lawsuit over uDraw failure
Law firm Levi & Korsinsky has invited THQ investors to take part in a no-cost, no-obligation class action lawsuit against the publisher over its significant losses in the third quarter of 2012. The suit alleges executives failed to inform shareholders of the significant under-performance of uDraw, which has been blamed for THQ’s financial collapse last year, which saw already struggling stock fall 30%. Current and former shareholders have until mid-August to get on board the suit. This is at least the second suit of its kind brought against THQ.
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Posted in: Legalities, THQ, Trade
7 comments
#1
The_Red
18/07/12, 12:16 am
Wow, uDraw is a title that just keeps on giving (TO the publisher).
#2
silkvg247
18/07/12, 12:18 am
Me no understand the big words. What does this mean for THQ?
#3
Kabby
18/07/12, 12:32 am
It means someone needs to buy Relic and the WH40K license.
#4
xxJPRACERxx
18/07/12, 12:44 am
WTF? I’m no expert in this kind of thing but when you invest in something I think it’s normal there’s risk, no? I think these are fucking greedy bastards.
And the company is just recovering. Lets give it some slack!
#5
Giskard
18/07/12, 12:44 am
@silk It means that they’re suing THQ for not informing the shareholders of how bad uDraw was doing. If it passes THQ will be in deep shit.
#6
silkvg247
18/07/12, 12:52 am
Isn’t that a bit like kicking a dog when it’s down?
ffs why can’t they leave THQ alone, I like their games.. :/
#7
ejams
18/07/12, 1:59 am
@6 – Yup, picking at their pennies when that’s all they’ve got left. They said one more failed release will really hinder them, potentially to the point of no return and this law suit is only making it that much more realistic.