Dangerous Incorporated
10-19-2006, 05:22 AM
WWE Sue THQ/JAKKS
Press Release - Wednesday, October 18 2006
THQ and THQ/JAKKS Pacific LLC Issue Statement:
THQ logo. (PRNewsFoto/THQ Inc.)
AGOURA HILLS, Calif., Oct. 18 /PRNewswire-FirstCall/ -- THQ Inc.
(Nasdaq: THQI) and THQ/JAKKS Pacific LLC (the "LLC") today announced that a
lawsuit was filed on October 12, 2006 in Connecticut state court by World
Wrestling Entertainment, Inc. against THQ and the LLC, involving a claim
previously reported in Securities and Exchange Commission filings
concerning allegedly improper sales of WWE video games in Japan and other
countries in Asia. The lawsuit seeks, among other things, a declaration
that the WWE is entitled to terminate the video game license and monetary
damages. THQ and the LLC believe the lawsuit is without merit and we intend
to defend ourselves vigorously.
(Logo: http://www.newscom.com/cgi-bin/prnh/20041118/LATH093LOGO )
About THQ Inc.
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
http://www.thq.com and http://www.thqwireless.com. THQ, THQ Wireless and their respective
logos are trademarks and/or registered trademarks of THQ Inc.
About JAKKS Pacific, Inc.
JAKKS Pacific, Inc. is a multi-brand company that designs and markets a
broad range of toys and consumer products. The product categories include:
Action Figures, Art Activity Kits, Stationery, Writing Instruments,
Performance Kites, Water Toys, Sports Activity Toys, Vehicles,
Infant/Pre-School, Plush, Construction Toys, Electronics, Dolls, Dress-Up,
Role Play, and Pet Toys and Accessories. The products are sold under
various brand names including JAKKS Pacific(R), Play Along(R), Flying
Colors(R), Creative Designs International(TM), Road Champs(R), Child
Guidance(R), Pentech(R), Trendmasters(R), Toymax(R), Funnoodle(R), Go Fly a
Kite(R), Color Workshop(R), JPI(TM) and Plug It In & Play TV Games(TM).
JAKKS and THQ Inc. participate in a joint venture that has worldwide rights
to publish and market World Wrestling Entertainment video games. For
further information, visit http://www.jakkspacific.com.
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 the WWE lawsuit, 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 Quarterly
Reports on Form 10-Q and Annual Report on Form 10-K for the fiscal period
ended March 31, 2006, 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.
This press release may contain forward-looking statements (within the
meaning of the Private Securities Litigation Reform Act of 1995) that are
based on current expectations, estimates and projections about JAKKS
Pacific's business based partly on assumptions made by its management.
These statements are not guarantees of future performance and involve
risks, uncertainties and assumptions that are difficult to predict.
Therefore, actual outcomes and results may differ materially from what is
expressed or forecasted in such statements due to numerous factors,
including, but not limited to, those described above, changes in demand for
JAKKS' products, product mix, the timing of customer orders and deliveries,
the impact of competitive products and pricing, and difficulties with
integrating acquired businesses. The forward-looking statements contained
herein speak only as of the date on which they are made, and JAKKS
undertakes no obligation to update any of them to reflect events or
circumstances after the date of this release.
CONTACT:
Liz Pieri
THQ/Media Relations
818/871-5061
lpieri@thq.com
Julie MacMedan
THQ/Investor Relations
818/871-5125
jmacmedan@thq.com
Genna Rosenberg
JAKKS Pacific/Media Relations
310/455-6235
gennar@jakks.net
Souce: THQ Inc.; THQ/JAKKS Pacific LLC
Press Release - Wednesday, October 18 2006
THQ and THQ/JAKKS Pacific LLC Issue Statement:
THQ logo. (PRNewsFoto/THQ Inc.)
AGOURA HILLS, Calif., Oct. 18 /PRNewswire-FirstCall/ -- THQ Inc.
(Nasdaq: THQI) and THQ/JAKKS Pacific LLC (the "LLC") today announced that a
lawsuit was filed on October 12, 2006 in Connecticut state court by World
Wrestling Entertainment, Inc. against THQ and the LLC, involving a claim
previously reported in Securities and Exchange Commission filings
concerning allegedly improper sales of WWE video games in Japan and other
countries in Asia. The lawsuit seeks, among other things, a declaration
that the WWE is entitled to terminate the video game license and monetary
damages. THQ and the LLC believe the lawsuit is without merit and we intend
to defend ourselves vigorously.
(Logo: http://www.newscom.com/cgi-bin/prnh/20041118/LATH093LOGO )
About THQ Inc.
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
http://www.thq.com and http://www.thqwireless.com. THQ, THQ Wireless and their respective
logos are trademarks and/or registered trademarks of THQ Inc.
About JAKKS Pacific, Inc.
JAKKS Pacific, Inc. is a multi-brand company that designs and markets a
broad range of toys and consumer products. The product categories include:
Action Figures, Art Activity Kits, Stationery, Writing Instruments,
Performance Kites, Water Toys, Sports Activity Toys, Vehicles,
Infant/Pre-School, Plush, Construction Toys, Electronics, Dolls, Dress-Up,
Role Play, and Pet Toys and Accessories. The products are sold under
various brand names including JAKKS Pacific(R), Play Along(R), Flying
Colors(R), Creative Designs International(TM), Road Champs(R), Child
Guidance(R), Pentech(R), Trendmasters(R), Toymax(R), Funnoodle(R), Go Fly a
Kite(R), Color Workshop(R), JPI(TM) and Plug It In & Play TV Games(TM).
JAKKS and THQ Inc. participate in a joint venture that has worldwide rights
to publish and market World Wrestling Entertainment video games. For
further information, visit http://www.jakkspacific.com.
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 the WWE lawsuit, 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 Quarterly
Reports on Form 10-Q and Annual Report on Form 10-K for the fiscal period
ended March 31, 2006, 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.
This press release may contain forward-looking statements (within the
meaning of the Private Securities Litigation Reform Act of 1995) that are
based on current expectations, estimates and projections about JAKKS
Pacific's business based partly on assumptions made by its management.
These statements are not guarantees of future performance and involve
risks, uncertainties and assumptions that are difficult to predict.
Therefore, actual outcomes and results may differ materially from what is
expressed or forecasted in such statements due to numerous factors,
including, but not limited to, those described above, changes in demand for
JAKKS' products, product mix, the timing of customer orders and deliveries,
the impact of competitive products and pricing, and difficulties with
integrating acquired businesses. The forward-looking statements contained
herein speak only as of the date on which they are made, and JAKKS
undertakes no obligation to update any of them to reflect events or
circumstances after the date of this release.
CONTACT:
Liz Pieri
THQ/Media Relations
818/871-5061
lpieri@thq.com
Julie MacMedan
THQ/Investor Relations
818/871-5125
jmacmedan@thq.com
Genna Rosenberg
JAKKS Pacific/Media Relations
310/455-6235
gennar@jakks.net
Souce: THQ Inc.; THQ/JAKKS Pacific LLC