NEWS - Sunday, July 1, 2012


Things are going from bad to worse for THQ

WEST HARTFORD, CT--(Marketwire -06/28/12)- The law firm of Izard Nobel LLP, which has significant experience representing investors in prosecuting claims of securities fraud, announces that a lawsuit seeking class action status has been filed in the United States District Court for the Central District of California on behalf of purchasers of the common stock of THQ, Inc. ("THQ" or the "Company") (THQI) between May 3, 2011 and February 3, 2012, inclusive (the "Class Period").
 
The Complaint alleges that THQ and certain of its officers and directors violated the federal securities laws. Specifically, defendants failed to disclose the following adverse facts: (i) demand for THQ’s uDrawTM GameTabletTM ("uDraw") was well below internal expectations and THQ would have to take back, or provide price protection, on hundreds of thousands of uDraw units sold; (ii) that the uDraw for the Microsoft Xbox 360 and Sony PlayStation 3 was a failure and not being purchased by owners of those systems; and (iii) as a result, defendants lacked a reasonable basis for their positive statements about THQ.
 
On December 7, 2011, THQ updated its outlook for the 2012 fiscal third quarter announcing the Company expected to report net sales of approximately 25% below its previously announced guidance due to "weaker-than-expected initial sales of its uDraw GameTablet." Then, on February 2, 2012, THQ reported third quarter of 2012 net sales of $404.4 million, and a net loss of $55.9 million. On this news, on February 3, 2012, THQ stock fell significantly.
 
If you are a member of the class, you may, no later than August 14, 2012, request that the Court appoint you as lead plaintiff of the class. A lead plaintiff is a class member that acts on behalf of other class members in directing the litigation. Although your ability to share in any recovery is not affected by the decision whether or not to seek appointment as a lead plaintiff, lead plaintiffs make important decisions which could affect the overall recovery for class members.
 
While Izard Nobel LLP has not filed a lawsuit against the defendants, to view a copy of the Complaint initiating the class action or for more information about the case, and your rights, visit: www.izardnobel.com/thq/, or contact Izard Nobel LLP toll-free: (800)797-5499, or by e-mail: firm@izardnobel.com. For more information about class action cases in general, please visit our website: www.izardnobel.com.
 


Source: http://finance.yahoo.com

Site Statistics

Registered Members: 50,925
Forum Posts: 725,924
Xbox One Titles: 3,212
Xbox 360 Titles: 1,086
Xbox 360 Kinect Titles: 95
Xbox 360 Arcade Titles: 586
Original Xbox Titles: 987
Staff Reviews: 2,105
Member Reviews: 10,339
News Articles: 15,810
Screenshots: 34,603
Xbox 360 Achievements: 45,112
Xbox 360 Faceplates: 2,016
Cheat Codes: 1,706

Latest News








See News Archives

Community Forum Activity

2021: XBA is still here
Post by shrew king
1 Replies, 4955 Views

Watch Dogs: Legion
Post by Nato King
0 Replies, 20958 Views

Xbox Series X or S
Post by Nato King
5 Replies, 25043 Views

Spellbreak Grand Magus Pack (3) and Starter Pack (7) Giveaway!
Post by Variation-XBA
0 Replies, 19696 Views

I pay $ 1000! I search the Element 54 Canadian launch Team signaturen Faceplate
Post by Smill
0 Replies, 17711 Views

Xbox one no signal
Post by debrartin
0 Replies, 43859 Views

do you remember?
Post by SnoochyBoochy
3 Replies, 45756 Views

i haz xbox
Post by SnoochyBoochy
0 Replies, 40676 Views

Claiming the first thread of 2020
Post by Kraft
7 Replies, 68420 Views

Important! I pay $ 1000! I search the Sweden launch and the Element 54 Faceplate
Post by Smill
3 Replies, 27684 Views

Squad Up
Post by samslophead
0 Replies, 67349 Views

TERA Skinned Xbox One X Giveaway!
Post by Variation-XBA
0 Replies, 55922 Views

Starfield Release expectations?
Post by DJ tx
4 Replies, 106878 Views

Issue with Xbox live on Xbox home
Post by rcmpayne
0 Replies, 76883 Views

Happy Birthday, Me.
Post by SnoochyBoochy
4 Replies, 93108 Views

© 2000-2021 XboxAddict.com - All rights reserved. All trademarks are properties of their respective owners.
Xbox is a registered trademark of Microsoft. XboxAddict.com is not affiliated with Microsoft.

Made in Canada
Site Design by Cameron Graphics