THQ triumphant in WWE / JAKKS Pacific dispute
You may not know this, but THQ and JAKKS Pacific have been locked in a vicious courtroom tussle over payment for work on some of THQ's WWE titles. See, THQ and JAKKS had a deal wherein THQ was to pay JAKKS 10% of money accrued from the sale of the JAKKS-developed WWE games; however, the two ALL CAPS companies were set to renegotiate that deal when JAKKS jumped the gun, signing a new contract without THQ's consent. And, as you've probably guessed, that's when THQ sicked the lawyers on 'em. Today, the result of this ongoing cage match are in and THQ managed to pin JAKKS for the 1-2-3.
In the end, THQ was able to get that 10% figure lowered to only 6%, which will save the company "approximately" $23 million. JAKKS is surely upset: before the suit, the company was set to receive $57 million for its efforts in developing WWE titles; now that figure is a much lower $34 million. And what have we learned here? In the fantastical world of WWE, signing important documents without the consent of your business partner might make for great television but ... wait, we need to rethink this lesson ...
Source - THQ Prevails in JAKKS Pacific Arbitration Dispute
Source - JAKKS Pacific Announces Result in THQ Arbitration
