SOURCE: Dyer & Berens LLP
DENVER, CO--(Marketwire - Jul 31, 2012) - Dyer & Berens LLP (www.DyerBerens.com) today announced that it has filed a class action lawsuit in the United States District Court for the Central District of California on behalf of purchasers of THQ Inc. (NASDAQ: THQI) common stock during the period between May 3, 2011 and February 3, 2012 (the "Class Period").
What actions may I take at this time? If you purchased shares during the Class Period and wish to serve as a lead plaintiff, you must request appointment by the court no later than August 14, 2012. A "lead plaintiff" works with counsel to direct the litigation and participates in important decisions, including the amount of compensation to accept in settlement of the class action. Members of the putative class may move the court to serve as lead plaintiffs through counsel of their choice, or may choose to do nothing and remain absent class members.
If you would like to discuss this action, the lead plaintiff process, or have any questions concerning this notice, please contact plaintiff's counsel, Jeffrey A. Berens, Esq., at (888) 300-3362 x302 or via email at firstname.lastname@example.org.
What are the allegations in the complaint? The complaint contains allegations that, during the Class Period, defendants issued materially false and misleading statements regarding the company's business and prospects. Specifically, defendants misrepresented and/or failed to disclose the following adverse facts: (a) that demand for the company's uDraw™ GameTablet™ ("uDraw") was well below internal expectations and the company would have to take back, or provide price protection, on hundreds of thousands of uDraw units that it had sold; (b) that the uDraw for the Microsoft Xbox 360® and Sony PlayStation 3® was a failure and not being purchased by owners of those gaming systems; and (c) as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the company and its prospects. Based upon the foregoing, the complaint charges the company and certain of its officers and directors with violations of the Securities Exchange Act of 1934.
About Dyer & Berens LLP. The plaintiff is represented by Dyer & Berens LLP. The firm's extensive experience in securities litigation, particularly in cases brought under the Private Securities Litigation Reform Act, has contributed to the recovery of hundreds of millions of dollars for aggrieved investors.