Shareholders sue THQ over rubbish uDraw peripheral

by Ben Salter Featured 4 Comments 19 Votes 1063 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

Favourite 2014 game so far?

Favourite 2014 game so far?

19/06/2014 Polls 23 39
didgio digital giveaway: Win 1 of 50 PC game codes
Tano 8 hours News 0 9
Tetris The Movie is actually happening

Tetris The Movie is actually happening

Tano 1 day News 4 7
Game consoles quickly becoming most used devices for video streaming

Game consoles quickly becoming most used devices for video streaming

Tano 1 day News 0 2
Pokémon Trading Card Game Online is out on iPad

Pokémon Trading Card Game Online is out on iPad

Gryllis 1 day News 11 18
Friendly Fire Show 70: The Amazing Dergerpopa

Friendly Fire Show 70: The Amazing Dergerpopa

Podcast 3 days Articles 0 3
Preview: Watch what's new in Skylanders Trap Team

Preview: Watch what's new in Skylanders Trap Team

RSOP 22/09 Articles 2 4
Friendly Fire Show 69: Fangin' Destiny

Friendly Fire Show 69: Fangin' Destiny

Podcast 22/09 Articles 0 3

Community Content

ZiNG Pop Culture Stores open around Australia

ZiNG Pop Culture Stores open around Australia

Leasha 18/09 News 13 11
Awesome Gaming Stuff Of Tomorrow, Today! Vol. 3

Awesome Gaming Stuff Of Tomorrow, Today! Vol. 3

02/09/2014 Blog 10 0

MMGN Updates

Status
Updating..
Username

punk, kangle4 commented on didgio digital giveaway: Win 1 of 50 PC game codes

punk 45 mins ago
Username

commented on Yoda encourages reading on Star Wars Reads Day

Leasha 1 hour ago
Username

commented on Wasteland 2 review

barters81 2 hours ago
Username

Tano, maxiboy commented on World of Warships hands-on: Can it be Wargaming's next juggernaut?

Tano 5 hours ago
Username

Jayden27, Tano, Tj866 and other 4 users commented on didgio digital giveaway: Win 1 of 50 PC game codes

Jayden27 6 hours ago
Username

commented on Second Season of Nisekoi is green-lit!

Mirage 6 hours ago
Username

zurczner, Blak commented on Blak's Massive Figurine Collection

zurczner 10 hours ago
Username

Kayel, DarkJibTEC commented on Blak's Massive Figurine Collection

Kayel 19 hours ago
Username

DarkJibTEC, K4ZMA commented on Second Season of Nisekoi is green-lit!

DarkJibTEC 22 hours ago