THQ Investigated for Misleading on UDraw to Stockholders
US law firm going after THQ for not mentioning poor sales
A US law firm called Holzer Holzer & Fiste LLC is investigating THQ regarding the allegation that the games company withheld information on sales of its now defunct UDraw device and software.
Yesterday new THQ president, Jason Rubin said of the device, "They sell through was very strong" last quarter, he said. "We think we will sell the remaining units by this holiday. We won't be burying these in the desert."
Today, Holzer Holzer & Fistel, LLC says that it "is investigating potential violations of the federal securities laws by THQ, Inc."
According to the, lets' be clear on this, law firm not US government or the SEC, " The investigation focuses on whether a series of statements made between May 3, 2011 and February 3, 2012, inclusive, regarding the Company's business, its prospects and its operations were materially false and misleading at the time they were made. Specifically, the investigation seeks to determine, among other things, whether the Company knew but failed to timely disclose that demand for its uDraw GameTablet was below internal expectations in part due to differences between gamers who play video games on the Nintendo Wii and those who play games on Xbox360 and PlayStation."
What his comes down to really is a law firm touting for business. It says, "If you purchased THQ common stock between May 3, 2011 and February 3, 2012 and have questions concerning your legal rights, you are encouraged to contact Holzer Holzer & Fistel, LLC..."
That's called "soliciting" that is.
See more here.
Yesterday new THQ president, Jason Rubin said of the device, "They sell through was very strong" last quarter, he said. "We think we will sell the remaining units by this holiday. We won't be burying these in the desert."
Today, Holzer Holzer & Fistel, LLC says that it "is investigating potential violations of the federal securities laws by THQ, Inc."
According to the, lets' be clear on this, law firm not US government or the SEC, " The investigation focuses on whether a series of statements made between May 3, 2011 and February 3, 2012, inclusive, regarding the Company's business, its prospects and its operations were materially false and misleading at the time they were made. Specifically, the investigation seeks to determine, among other things, whether the Company knew but failed to timely disclose that demand for its uDraw GameTablet was below internal expectations in part due to differences between gamers who play video games on the Nintendo Wii and those who play games on Xbox360 and PlayStation."
What his comes down to really is a law firm touting for business. It says, "If you purchased THQ common stock between May 3, 2011 and February 3, 2012 and have questions concerning your legal rights, you are encouraged to contact Holzer Holzer & Fistel, LLC..."
That's called "soliciting" that is.
See more here.
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