Featured Post

Thank You, Axl Rotten (And R.I.P.)

Tuesday, September 2, 2008

THQ Announces Dismissal Of Most WWE Claims

Courtesy of THQ Inc.:

AGOURA HILLS, Calif., Sept. 2, 2008 -- THQ Inc. (NASDAQ:THQI) today announced that the Connecticut Superior Court has dismissed most of the World Wrestling Entertainment (WWE)'s claims against THQ Inc. and THQ/JAKKS Pacific LLC. In particular, the Connecticut Superior Court dismissed all claims brought by WWE against THQ and THQ/JAKKS Pacific, LLC arising out of WWE's allegations that the videogame license between WWE and THQ/JAKKS Pacific LLC was void or voidable based upon JAKKS Pacific Inc.'s alleged bribery of WWE's licensing agent Stanley Shenker and employee James Bell.

The remaining claims, which were not the subject of the motions before the Court, pertain to previously disclosed allegations relating to certain agreements with Yuke's Co. Ltd., a developer and distributor in Japan.

"The Connecticut Superior Court's decision marks a significant milestone in resolving the WWE litigation," said James M. Kennedy, executive vice president of business and legal affairs, THQ. "We believe the remaining claims are without merit and we intend to defend ourselves vigorously."

About THQ

THQ Inc. (NASDAQ:THQI) is a leading worldwide developer and publisher of interactive entertainment software. The company develops its products for all popular game systems, personal computers and wireless devices. Headquartered in Los Angeles County, California, THQ sells product through its global network of offices located throughout North America, Europe and Asia Pacific. More information about THQ and its products may be found at www.thq.com. THQ, and its respective logos are trademarks and/or registered trademarks of THQ Inc.

The statements contained in this press release that are not historical facts may be "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on current expectations, estimates and projections about the business of THQ Inc. and its subsidiaries (collectively referred to as "THQ"), including, but not limited to, expectations and projections related to THQ's litigation with World Wrestling Entertainment, and are based upon management's current beliefs and certain assumptions made by management. Such forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such forward-looking statements, including, but not limited to, business, competitive, economic, legal, political and technological factors affecting our industry, operations, markets, products or pricing. Readers should carefully review the risk factors and the information that could materially affect THQ's financial results, described in other documents that THQ files from time to time with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal period ended March 31, 2008, and particularly the discussion of risk factors set forth therein. Unless otherwise required by law, THQ disclaims any obligation to update its view on any such risks or uncertainties or to revise or publicly release the results of any revision to these forward-looking statements. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this press release.

THQ/Investor and Media Relations
Julie MacMedan, 818/871-5125