NEW YORK, Aug. 10, 2012 /PRNewswire/ -- 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.
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For more information click: http://zlk.9nl.com/thq-thqi.
There is no cost or obligation to you.
The complaint alleges that THQ and certain of its executive
officers misrepresented or failed to disclose that: (a) the
Company's uDraw GameTablet 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.
On December 7, 2011, THQ announced
that it expected to report net sales approximately 25% below its
previously announced guidance for the third quarter of 2012, due to
"weaker-than-expected initial sales" of uDraw. Then on February 2, 2012, THQ announced financial results
for the third quarter of 2012, reporting a net loss of $55.9 million. On this news, THQ stock fell
30% to close at just $0.53 per
share.
If you suffered a loss in THQ you have until August 14, 2012 to request that the Court
appoint you as lead plaintiff. Your ability to share in any
recovery doesn't require that you serve as a lead plaintiff. To
obtain additional information, contact Joseph E. Levi, Esq. either via email at
jlevi@zlk.com or by telephone at (877) 363-5972, or visit
http://zlk.9nl.com/thq-thqi.
Levi & Korsinsky is a national firm with offices in
New York and Washington D.C.
The firm has extensive expertise in prosecuting securities
litigation involving financial fraud, representing investors
throughout the nation in securities and shareholder lawsuits.
Attorney advertising. Prior results do not guarantee similar
outcomes.
CONTACT:
Levi & Korsinsky, LLP
Joseph Levi, Esq.
Eduard Korsinsky,
Esq.
30 Broad Street - 24th Floor
New York, NY
10004
Tel: (212) 363-7500
Toll Free: (877) 363-5972
Fax: (212) 363-7171
www.zlk.com
SOURCE Levi & Korsinsky, LLP