The form states, ”Levi & Korsinsky announces that a class action lawsuit has been commenced in the United States District Court for the Central District of California on behalf of shareholders who purchased THQ Inc. (Nasdaq: THQI) stock between May 3, 2011 and February 3, 2012 (the “Class Period”). The complaint alleges that THQ and certain of its executive officers issued false or misleading statements concerning the Company. Specifically, it is alleged that defendants misrepresented or failed to disclose that: (a) the Company’s uDraw GameTablet (“uDraw”) for Microsoft Xbox 360 and Sony PlayStation 3 was not being purchased by owners of those gaming systems; (b) because demand for uDraw was below internal expectations, the Company would have to take back, or provide price protection, on hundreds of thousands of units that it had sold; and (c) as a result of the foregoing, defendants lacked a reasonable basis for their positive statements about the Company and its prospects. “
uDraw was blamed for THQ’s financial collapse, after the publisher invested heavily in the drawing tabling activity game.
