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THQ Being Sued again over uDraw Tablets

By Brian P Rubin | 19 July 2012 | 4 Comments   

udraw suit

A class action lawsuit has been filed against THQ over allegations that the company misled investors over its failed video game peripheral, the uDraw Game Tablet. Last month, a law firm in Georgia began an investigation into the situation at the behest of some investors, which resulted in a class-action lawsuit being filed a few days later. This latest suit has been filed by New York-based law firm Levi and Korsinsky.

Say the documents regarding the filing:

“The complaint alleges that THQ and certain of its executive officers issued false or misleading statements concerning the Company. Specifically, 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.”

The document also says that any shareholders who purchased THQ stock between May 3, 2011 and February 3, 2012, can join the suit at no cost.

Via GamesIndustry

4 Comments

  1. Posted by Mugenite on 19 July 12 at 11:13am

    Damn… THQ just can’t get a break. But then again, this tablet thing does suck monkey balls. Meh…

  2. Posted by DarthSIlon on 19 July 12 at 12:40pm

    For some reason more than half the games I have bought on the Steam Summer Sale have been THQ games.

    • Posted by GBiv on 20 July 12 at 4:24am

      That’s because the Total War franchise is awesome, however, they are expensive. That’s the only reason why I didn’t get the Shogun 2 Fall of the Samurai. But now the entire Shogun 2 basic collection is out for 10 dollars less than just Fall of the Samurai. I’m so glad I waited for a sale to drop the game prices by 50% or more and my wishes were answered.

  3. Posted by Tim on 20 July 12 at 1:02am

    I feel bad for THQ, they do not need this at all right now :(

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