4Kids sued

[Blizz]

Seems that 4Kids have been messing with Yu-Gi-Oh on a much deeper level...

Full story.

[ShayMay]

Wow.
They'll have to play their cards right if they want out of this one!

*ba-dum tish*

[Devo DrakeFox]

It said TV Tokyo and Nihon failed their suit. Someone tell me that's just a typo.

[Exu]

Vid related, not embedded due to naughty words.

[madhair60]

I hope 4Kids win

[Badly-Drawn Manchild]

Mar 29, 2011 22:19:39 GMT madhair60 said:

I hope 4Kids win

This might just be the only time I'll see that written anywhere in Internet-land.

I'm not supporting either side of this whole lawsuit thing, but I just thought this was amusing when I think of the general consensus of 4Kids out on the Internet, that's all.

[The Shad]

www.4-traders.com/news/4Kids-Entertainment-Files-for-Bankruptcy-Under-Chapter-11--13596393/

4Kids Entertainment, Inc. (Pink Sheets: KIDE), the global children's entertainment and merchandise licensing company, announced today that it has filed a petition in bankruptcy for relief under Chapter 11 of the U.S. Bankruptcy Code. The bankruptcy filing in the U.S. Bankruptcy Court for the Southern District of New York also covers all of the domestic wholly-owned 4Kids subsidiaries. 4Kids Entertainment International, Ltd., the Company's subsidiary based in London England, is not part of the bankruptcy filing.

In conjunction with the Chapter 11 filing, 4Kids also filed a variety of first day motions that will allow the Company to continue to manage operations in the ordinary course.

"We want to assure our clients, business partners and licensees that during the pendency of the bankruptcy, 4Kids will continue to provide the same level of service and dedication that it has in the past," said Michael Goldstein, interim Chairman of 4Kids Entertainment, Inc. "The Company will also continue to explore its strategic alternatives, including, the possible sale of the business or reorganization as a stronger and more focused company,".

The 4Kids bankruptcy filing automatically "stays" the lawsuit filed by the licensors of the Yu-Gi-Oh! property, Asatsu-DK Inc ("ADK") and TV Tokyo Corporation, (collectively, the "Licensors") on March 24, 2011 against 4Kids, until such time as the Court may order otherwise.

"We have made every effort to reach agreement with the Licensors," said Goldstein. "When the Company did not receive a positive response from Licensors to its settlement proposal, the Board of Directors was left with little choice but to authorize the filing of a bankruptcy petition under Chapter 11 in order to best preserve the business and assets of 4Kids Entertainment. We continue to believe that the purported termination of the Yu-Gi-Oh! Agreement was wrongful and that 4Kids' assessment of the audit claims will be vindicated in court. If the Court rules in favor of the Company, 4Kids will pursue the full measure of damages for the significant injury the Licensors have caused to the business of 4Kids," concluded Goldstein.

4Kids is represented in its bankruptcy filing by its long standing outside counsel, Kaye Scholer LLP.

[madhair60]

Mar 31, 2011 21:02:27 GMT Badly-Drawn Manchild said:

Mar 29, 2011 22:19:39 GMT madhair60 said:

I hope 4Kids win

This might just be the only time I'll see that written anywhere in Internet-land.

I'm not supporting either side of this whole lawsuit thing, but I just thought this was amusing when I think of the general consensus of 4Kids out on the Internet, that's all.

Basically, their success would have irritated beyond reason an enormous amount of people whose behaviour I find despicable. Their bankruptcy has given those total [censored]s licence to gloat over nothing, while probably hundreds of hard-working people are out of a job. great.

[Pinchetel]

Slight bump, in regards to the glaoters you mention.

Are the gloaters saying things on the lines of the death of 4Kids will allow for better anime dubbing? Has anyone told said gloaters that this whole fiasco will just make it harder to get anything dubbed at all due to confidence in all dubbing companies being lost?

[Baron Canier]

Most anime elitists don't want dubs to exist at all.

[lordgazza]

Take the attitudes of DaizenshuuEX for example they have no interest in the dubs at all and are in fact shocked when people who've watched the show dubbed don't immediately go out to search for it subbed. I'll be honest though 4Kids' dub of Shaman King(one of my favourite anime series) isn't that bad.

If what that article says is true then 4Kids have taken a legal technicality out of their lawsuit. It suggests they weren't to confident with the strength of their own case and with just cause I might add.