WWE files suit against THQ, Jakks

No_Style · Oct 21, 2004, 04:29 AM

World Wrestling Entertainment today announced that the company has filed suit against video game publisher and WWE license holder THQ, toy manufacturer Jakks Pacific, and related defendants. The WWE alleges that the video game license held by THQ and Jakks, which is currently in effect through December 2009, was obtained via a far-reaching "commercial bribery scheme." The WWE has asked the New York District Court to declare the license void and unenforceable.

In total, the papers filed today in the United States District Court for the Southern District of New York comprise 14 different counts of racketeering, bribery, money-laundering, and other such charges. Defendants named in the suit are Jakks Pacific, Inc.; THQ, Inc.; former WWE licensing agent Stanley Shenker & Associates, Inc. (SSAI); Bell Licensing, LLC; highest-ranking Jakks executives Jack Friedman, Stephen Berman, and Joel Bennett; Stanley Shenker; and former WWE senior vice president of licensing and merchandising James Bell.

“WWE’s intellectual property is a valuable asset of the Company, and we believe the actions taken today are necessary to preserve the integrity of our licensing process and essential to ensure that WWE receives appropriate and fair compensation for the grant of a license to use our intellectual property,” WWE chief executive officer Linda McMahon said in a statement released today.
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Read More/Source: GameSpot

Oct 21, 2004, 04:29 AM	#1
No_Style Styleless Wonder Join Date: Jun 2002 Location: Ottawa, Ontario Posts: 6,034 Rep Power: 0	WWE files suit against THQ, Jakks World Wrestling Entertainment today announced that the company has filed suit against video game publisher and WWE license holder THQ, toy manufacturer Jakks Pacific, and related defendants. The WWE alleges that the video game license held by THQ and Jakks, which is currently in effect through December 2009, was obtained via a far-reaching "commercial bribery scheme." The WWE has asked the New York District Court to declare the license void and unenforceable. In total, the papers filed today in the United States District Court for the Southern District of New York comprise 14 different counts of racketeering, bribery, money-laundering, and other such charges. Defendants named in the suit are Jakks Pacific, Inc.; THQ, Inc.; former WWE licensing agent Stanley Shenker & Associates, Inc. (SSAI); Bell Licensing, LLC; highest-ranking Jakks executives Jack Friedman, Stephen Berman, and Joel Bennett; Stanley Shenker; and former WWE senior vice president of licensing and merchandising James Bell. “WWE’s intellectual property is a valuable asset of the Company, and we believe the actions taken today are necessary to preserve the integrity of our licensing process and essential to ensure that WWE receives appropriate and fair compensation for the grant of a license to use our intellectual property,” WWE chief executive officer Linda McMahon said in a statement released today. _______________ Read More/Source: GameSpot __________________ "The Best Style Is No Style" Specifications Here