Acclaim being sued again...

**Melf** · 19 Mar 2003, 01:05 AM

From Gamers.com:

As you may have heard over the last few days, a group of shareholders in games developer and publisher Acclaim have filed a class-action lawsuit against the company. The complaint alleges that the company's predictions regarding its financial performance during the first three quarters of 2002 (January 11 through September 19) were "materially false and misleading," and failed to take into account circumstances at Acclaim which would inevitably lead to poor performance in the marketplace.
The suit contends that Acclaim's expectations during 2002 should have been lowered due to the following circumstances:

Acclaim was alienating retailers and consumers by releasing more products in larger quantities than demand required;
Acclaim was experiencing severe difficulties with its internal development studios, production, and testing departments;
Lower-than-expected demand for Turok Evolution and Aggressive Inline reduced the potential profitability of both of those projects;
Failings in Acclaim's retail distribution and sales tracking systems were causing it to underestimate the costs of sales returns and price concessions;
Mature-oriented titles such as BMX XXX were being shut out of the broadest possible retail channels.
For our part, we would suggest that Acclaim's investors should have paid somewhat closer attention to exactly what they were buying into, but they will have their day in court one way or the other. The class-action suit is open to anyone who purchased Acclaim stock between the two dates listed above -- those interested should visit the law firm of Cauley, Geller, Bowman, Coates, and Rudman LLP, which is representing the plaintiffs.

Maybe it'll go right this time and Acclaim will die.

**stormy** · 19 Mar 2003, 01:16 AM

You would have to be retarded to think Acclaim wouldn't suck. If they did thier research like good investors they wouldn't have had this problem. They deserve to lose every cent they put into that shit factory.

**Shine** · 19 Mar 2003, 01:28 AM

Grow up Melf.
Acclaim is like any other corp, They put out games that are, for the most part, hit or miss. Yes they release alot of crap but they have on occasion released some note worthy titles. I am okay with their few and far between approach to quality.

Remember that, although you may not like it, the MK&AO license is a huge cash cow for them, given that fact, you can see that we aren't their primary market. And thus we really shouldn't be bothered by most of their poducts, save for BMX XXX of course.

I'm siding with Acclaim on this one because all they did was talk-up their product to keep and/or attract potential investors. Buyer beware, I could sell you a bottle of piss and tell you it's water from the fountain of youth, and if you're stupid enough to drink it it's you own damn dumbass fault. They lost money and now they're acting like children who didn't get their way. I hope Acclaim buries them.

**MechDeus** · 19 Mar 2003, 01:35 AM

Originally posted by Melf
Maybe it'll go right this time and Acclaim will die.

But then what would happen to Burnout 3?! (I realize it probably doesn't exist at this point, but still.)

**johnk_** · 19 Mar 2003, 01:40 AM

every new lawsuit against acclaim puts a little sunshine in my day..

although those investors were pretty fucking stupid to put money into acclaim in the first place..

stick this one in the 'couldn't care less' file.

**Delta** · 19 Mar 2003, 01:43 AM

acclaim has sucked since the nes days. the sooner they're out of the gaming industry, the better...

**GohanX** · 19 Mar 2003, 02:44 AM

I'm with Shineaqua on this one.

The stock market is a gamble. Like all gambles, you may lose. If you don't like it, invest in something lest risky or just put the money in the bank.

**AaronChance** · 19 Mar 2003, 04:31 AM

But companies aren't supposed to lie or mislead their investors. Gamblers at least know the odds they're getting, but gambling with Acclaim is playing in a casino where all the tables are rigged.

Acclaim usually makes about one game a year to justify their existence and no one forces you to buy the crappy ones so let them live.