Nasdaq puts THQ on notice

Publisher hasn't filed its quarterly results on time due to internal stock option investigation, gets warning from stock exchange.

by

You're going on the board, THQ!

Yesterday a New York law firm announced that it was cooking up a class-action lawsuit against THQ alleging that certain board members and executives improperly backdated their stock options. The publisher is already investigating its stock option granting practices, which has kept it from formally filing its second-quarter financial results.

That's a no-no for companies listed on the Nasdaq, and the publisher today confirmed that it received a warning letter from the stock exchange. However, THQ is going to seek a hearing before the Nasdaq Listing Qualification Panel that would let it remain listed for the time being.

Such warnings are not uncommon for those involved in stock-option investigations, because the companies typically refrain from filing financial results since they might have to restate them as soon as the investigation is over. Last week Activision reported receiving a similar warning.

Discussion

59 comments
dholmes19
dholmes19

i hate all this stock market bullcrap. It brings me back to the time when martha stewart burnt the muffins.......

Homsar13
Homsar13

ahaha.... that stephen colbert...

BraindeadRacr
BraindeadRacr

THQ didn't got in trouble so far with Saints Row, it's more of an GTA:SA duplicate and Rockstar Games has been sprayed with lawsuits about SA. I guess Jack Thompson is having his Winter Holiday? ON NOTICE THOMPSON! ON NOTICE.... ):[)

Iriseon
Iriseon

I see you've chosen to mix one form of fake journalism with another form of fake journalism. I find it "funny."

Dolacide
Dolacide

Thq is having a lot of problems, with this and having two lawsuits from the WWE.

Martyr
Martyr

colbert nation!!!

RaiKageRyu
RaiKageRyu

Let THQ release Supreme Commander at least.

BraindeadRacr
BraindeadRacr

Lol at Colbert, but it's messed up with their games... I see an large red emblem - "DELAYED". And what the hell!? My name is Neal and look at the board Colbert is holding: "People named "Neal" :S

Sheiko
Sheiko

That Colbert report picture is really funny but sadly THQ's notice delayed Supreme Commander by a month and a half really bad since its such a good game. Hopefully things turn up though.

JoelHH
JoelHH

I love the fact that half of the comments made are about the Colbert picture rather than the story itself :D Put milk on notice!

angus73
angus73

WOOO STEPHEN COLBERT!!!!!!! HE IS THE BEST!!!!!

Qohip
Qohip

Oh great, now Gamespot is turing into Game Informer too. Pardon me while I go kill myself.

Dace67
Dace67

Gamespot = win for using Colbert Report picture.

LAZZOR
LAZZOR

It's nice to know that GS knows what it's users watch on tv lol. It would've been better if THQ was photoshopped onto the on notice board.

QualityJeverage
QualityJeverage

Poor THQ, but the Colbert Board is an admittedly hilarious move on Gamespot's part.

finalcross
finalcross

Well I guess it's a really slow news day...

Gazza101
Gazza101

Why can't these greedy pigs just play by the rules in the first place?

Colsworl
Colsworl

This on top of the WWE lawsuit?

MasterAsh42
MasterAsh42

Tungsten88, that's Stephen Colbert, as Stephen Colbert of "The Colbert Report." The series is a spin-off of Comedy Central's "The Daily Show with Jon Stewart." If you're not familiar with that either, think of "The Colbert Report" as a distant spiritual sibling of those old Weekend Update sketches from Saturday Night Live, but with a tongue-in-cheek Bill O'Reilly vibe. And if you're not familiar with that either, then I can only assume you're don't watch American television, and am at a loss. . . On the article, though, and continuing with the Comedy Central vibe, I can only ask "Why the @$%# is this news?!"

Tungsten88
Tungsten88

can anyone tell me what's so good about the picture and who that is?

Kravyn81
Kravyn81

:lol: @ the picture selected for this story.

gmangw
gmangw

gamespot's picture/caption people are hilarious.

TryMe01
TryMe01

this is a treand that i see

the_real_VIP
the_real_VIP

1st Activision, now THQ, who's next going badass shy at the market for not showing its financial results?

kinglink2
kinglink2

Btw looking into the law suit don't even worry about that. They are INVESTIGATING , not actually pursuing and it's one of those steps for "slimy" firms. They get the employees all pissed off, the employees sue the company company pays settlment, employees get a small amount (class action suits don't net much per person depending on size) and the lawyers get about half the money and go for a champange breakfast as they move on to the next suit. Short story is normal Wall street news, everyone can relax.

mat2g
mat2g

Show me the money, lol!

Cpt_Apollo
Cpt_Apollo

As a company, you can't let stuff like this happen. They can lead to even bigger problems.