Via Business Wire: http://www.businesswire.com/news/ho...Holzer-Fistel-LLC-Announces-Investigation-THQ

ATLANTA--(BUSINESS WIRE)--Holzer Holzer & Fistel, LLC is investigating potential violations of the federal securities laws by THQ, Inc. (“THQ” or the “Company&#8221 (NASDAQ: THQI). 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®. On February 3, 2012, THQ announced it would no longer manufacture or sell the uDraw™ GameTablet.™ The Company previously pointed to expansion of the uDraw GameTablet to the Xbox360® and PlayStation® platforms as a source of expected revenue growth.

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 and its attorneys Michael I. Fistel Jr., Esq. or Marshall P. Dees, Esq. via email at mfistel@holzerlaw.com, or mdees@holzerlaw.com, or via toll-free telephone at (888) 508-6832.

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Oh boy... as if they weren't already in much trouble.

Also, quoting myself here (from post later in this thread):

Now, Robbins Geller Rudman & Dowd LLP has filed a class action suit against the company:

http://www.businesswire.com/news/home/20120615006028/en/Robbins-Geller-Rudman-Dowd-LLP-Files-Class

I didn't feel it required a separate thread, so I posted it here.

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Thanks mod for title change, I realized the original wasn't that interesting.

can't they do this after I get my WiiU Saints Row Edition?

THQ keep getting their heads kicked in......

"We here at Holzer Holzer & Fistel, LLC have determined that this investigation be put on an indefinite hold until the release of Obsidian's South Park title."

Yeah, THQ knew uDraw would bomb on PS3 and 360, leading them to financial ruin, and decided to release it anyway.

Great case they got here.

Further proof that uDraw on 360/PS3 was the stupidest fucking idea ever.

animlboogy said:

"failed to TIMELY disclose".

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Still smells like whining. WTF were they supposed to do? They were trying to unload physical inventory. So if they were a little late, tuff titties. Would they have preferred THQ gone bankrupt? Then their stock would have been worth nothing and stockholders really would have had something to gripe about.

THQ royally screwed up with projections, but it's not like the CEO deliberately ran the company into the ground as a secret revenge sabotage. They had this plan with the belief it was going to print some money.

Anyone investing in a minor publisher teetering on the edge (even in good times) shouldn't be surprised when things go sour. THQ was dirt cheap for a reason. Buyer beware.

EDIT: The dates give this away. They're just a bunch of scumbag lawyers. Timely disclosure? They're going from May 3, 2011 through Feb, 2012. That's six months before the game even released. If THQ fucking knew it was going to bomb at the beginning of May, they would have shit canned the whole thing.

It didn't release until the Thanksgiving Holiday season. So that leaves a couple months after the Holiday season. After which they were just trying to clear the inventory without going completely bankrupt. And there's a reason the stock went from 1.75 a share to .75 cents a share around the middle of November. Nobody wanted it and everyone knew. Only a fool would have bought stock without asking what just happened.

Holz & Fist... sounds about right.

Now, Robbins Geller Rudman & Dowd LLP has filed a class action suit against the company:

http://www.businesswire.com/news/home/20120615006028/en/Robbins-Geller-Rudman-Dowd-LLP-Files-Class

I didn't feel it required a separate thread, so I posted it here.