SCi facing investor assault; management asked to resign
SCi Entertainment, parent company of Eidos, is under assault as investors demand the resignation of top executives. The Times reports things crumbled like a booby-trapped tomb after the company's stock plummeted last week following the announcement that management was pulling out of buyout talks; making matters worse was the discovery that SCi borrowed £30 million ($59 million) just to stay afloat until the end of the year.
Despite SCi having a recent hit with Kane & Lynch: Dead Men, the announcement that several major titles -- including the latest Tomb Raider -- are not releasing until holiday '08 is causing concerns about the company's financial situation. We'd make fun of how SCi managed to screw things up this badly during a time of record industry growth, but Atari is still light-years ahead of them in that department.
[Via GI.biz]
