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WWE Sues THQ ! - 10/20/2004 11:17:16 AM   

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In a move sure to worry THQ's shareholders, World Wrestling Entertainment has launched a lawsuit against games publisher THQ and toy manufacturer Jakks Pacific; as well as other parties involved in the case. WWE wants all current licensing agreements with the firm's in question nullified by the court - and claim that the licences - which don't expire until 2009 - are the result of a large-scale "commercial bribery scheme", which, needless to say, is a pretty serious accusation.

A list of organisations and individuals are named in the case, which includes fourteen separate counts of racketeering, bribery, money-laundering and other offences. Needless to say THQ aren't saying anything.

"WWE's intellectual property is a valuable asset of the Company, and we believe the actions taken today are necessary to preserve the integrity of our licensing process and essential to ensure that WWE receives appropriate and fair compensation for the grant of a license to use our intellectual property," commented WWE.

Source : Ferrago
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