San Diego, CA -- (SBWIRE) -- 07/31/2012 -- A deadline is coming up on August 14, 2012 in the lawsuit filed for investors of THQ Inc. (NASDAQ:THQI) over alleged securities laws violations in connection with certain statements over its uDraw hardware.
Investors with a substantial investment in THQ Inc. (NASDAQ:THQI) shares between May 3, 2011 and February 3, 2012, should get active before the Deadline that is coming up on August 14, 2012, and should contact the Shareholders Foundation at mail(at)shareholdersfoundation.com or call +1(858) 779 - 1554.
According to the complaint filed in the U.S. District Court for the Central District of California the plaintiff alleges on behalf of purchasers of THQ Inc. (NASDAQ:THQI) common stock during the period between May 3, 2011 and February 3, 2012, that THQ Inc. and certain of its certain of its officers and directors violated the Securities Exchange Act of 1934 by issuing materially false and misleading statements regarding the Company’s business and prospects.
On December 7, 2011, THQ Inc. updated its outlook for the 2012 fiscal third quarter, ended December 31, 2011. For the quarter, THQ Inc. expected to report net sales of approximately 25% below its previously announced guidance of $510 million to $550 million, due to “weaker-than-expected initial sales of its uDraw GameTablet for Xbox 360 and PlayStation 3.”
Then on February 2, 2012, THQ Inc. (NASDAQ:THQI) reported financial results for the third quarter ended December 31, 2011. Among other things, THQ Inc., said that it is exiting development of traditional kids’ licensed console games and has no future commitments or plans to manufacture uDraw hardware.
Those who purchased THQ Inc. (NASDAQ:THQI) common stock during the period between May 3, 2011 and February 3, 2012, have certain options and there are strict and short deadlines running. Deadline: August 14, 2012. NASDAQ:THQI investors should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
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