SouthPeak Chairman Terry Phillips stated in an investor call today, "We firmly believe we are the rightful holder of the intellectual property to this franchise." He continued that the company is currently in court proceedings to resolve, what he calls, the wrongful termination of its agreements with Nobilis and is seeking damages for the developer soliciting the My Baby 3 rights to Majesco. He concluded that the company plans to "vigorously" defend its position.
The My Baby franchise has been a "significant" part of the company's revenue, according to Phillips. So, missing My Baby 3 -- along with the other titles -- from the portfolio isn't helping SouthPeak's already glum financials.