Shareholders sue THQ over rubbish uDraw peripheral

by Ben Salter Featured 4 Comments 19 Votes 1163 Views 19/07/2012 Back to News

Shareholders are suing THQ over misguided claims about the popularity of its horrendous failure, the uDraw peripheral.

An estimated 1.4 million unsold units in early 2012 resulted in a USD $100 million revenue shortfall. It's no surprise that THQ's financial woes kicked off around that time.

A New York law firm is suing THQ on behalf of shareholders claiming, "THQ and certain of its executive officers issued false or misleading statements concerning the Company," reports Games Industry.

If you're into legal jargon: "It is alleged that defendants misrepresented or failed to disclose that: (a) the Company's uDraw GameTablet ("uDraw") for Microsoft Xbox 360 and Sony PlayStation 3 was not being purchased by owners of those gaming systems; (b) because demand for uDraw was below internal expectations, the Company would have to take back, or provide price protection, on hundreds of thousands of units that it had sold; and (c) as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and its prospects."

By Ben Salter - Bio

Link to us http://wii.mmgn.com/News/shareholders-sue-thq-over-rubbish-udraw
Vote for this article Log in with Facebook

More Info on uDraw Game Tablet with uDraw Studio

uDraw Game Tablet with uDraw Studio uDraw Game Tablet with uDraw Studio uDraw Game Tablet with uDraw Studio uDraw Game Tablet with uDraw Studio uDraw Game Tablet with uDraw Studio uDraw Game Tablet with uDraw Studio
uDraw Game Tablet with uDraw Studio Australian Release: OUT NOW

Shareholders sue THQ over rubbish uDraw peripheral Comments

Leave a comment Log in with Facebook
Shareholders used sue attack on THQ
IS SUPER AFFECTIVE
THQ took 999damage
THQ fainted
I think it's like $10 at EB games. Was thinking of buying it just for the tablet since some hax online about it
Is it really that bad?

RSOP said: I think it's like $10 at EB games. Was thinking of buying it just for the tablet since some hax online about it



The cheapest I've seen it is $23 I might pick one up too. :O
Poor THQ, the company can't catch a break :(

Post a comment

Leave a comment Log in with Facebook
  • uDraw Game Tablet with uDraw Studio
  • uDraw Game Tablet with uDraw Studio
  • uDraw Game Tablet with uDraw Studio
  • uDraw Game Tablet with uDraw Studio
  • uDraw Game Tablet with uDraw Studio
  • uDraw Game Tablet with uDraw Studio

Recently Read

Featured Wii Content

Most Anticipated September Game

Most Anticipated September Game

26/08/2015 Polls 5 10
Skylanders SuperChargers playable on iPad/iPhone

Skylanders SuperChargers playable on iPad/iPhone

Gryllis 1 day News 1 4
Nintendo on why Wii U doesn't have many exclusives

Nintendo on why Wii U doesn't have many exclusives

Tano 5 days News 0 3
Big games of September

Big games of September

Tano 26/08 Articles 11 9
GST will be added to buying games from overseas retailers

GST will be added to buying games from overseas retailers

Gryllis 21/08 News 6 15
New Rare Revealed videos will be added to YouTube

New Rare Revealed videos will be added to YouTube

Gryllis 21/08 News 0 2
Deus Ex creator opening PAX Aus 2015 keynote

Deus Ex creator opening PAX Aus 2015 keynote

Gryllis 18/08 News 0 5
Friendly Fire Show 102: A New Hope

Friendly Fire Show 102: A New Hope

Podcast 17/08 Articles 1 2

Community Content

What's it really like going to E3?

What's it really like going to E3?

12/06/2015 Blog 5 0