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4Kids responds to Yu-Gi-Oh! lawsuit, ready to take action - JAPANATOR
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4Kids responds to Yu-Gi-Oh! lawsuit, ready to take action


1:00 AM on 04.01.2011
4Kids responds to Yu-Gi-Oh! lawsuit, ready to take action photo



After 4Kids supposedly withheld money and made secret back room deals with FUNimation over the Yu-Gi-Oh! franchise, Nihon Ad Systems and TV Tokyo have chosen to terminate their license arrangement with 4Kids. In addition to no longer having US control over the Yu-Gi-Oh! anime, 4Kids is facing a lawsuit for the missing money.

Since it is a publicly traded company, 4Kids filed a Form 8-K report to the United States Securities and Exchange Commission to let its shareholders know what's going on. In the report, 4Kids denies the March 30 license termination "as wrongful and devoid of any factual and legal basis."

4Kids disputes several aspects of Nihon Ad and TV Tokyo's complaint. The company notes that the letter of termination "did not comply with the 10 business day notice and cure provision" that was in the original agreement. 4Kids also note that, having received a request for payment on March 4, they made a $1 million payment on March 17 "as a show of good faith" in order to gain a meeting on March 18 to discuss the dispute. The meeting was unsuccessful.

4Kids is moving forwards, planning to "vigorously oppose" the allegations. However, if the termination is valid, they plan to do everything they can to recoup the losses and maintain their business, even filing for bankruptcy. That kind of talk scares me. I know most of the anime community doesn't think too highly of 4Kids and their practices, but the fact remains that they're one of the few remaining major anime companies in the US. So many kids are exposed to anime thanks to the stuff they put out. If they went under, it would be a great loss to the already weakened US industry. Here's hoping they can reach some sort of settlement.

[via ANN]






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Legacy Comments (will be imported soon)


Time to d-d-d-d-d-d-d-duel?

B|
YOU"VE TRIGGERED MY CLASS ACTION LAWSUIT
Wait, so 4KIDS doesn't have control over Yu-Gi-Oh! anymore? or do they still? lol
-10 points for not including a "HA! YOU'VE ACTIVATED MY TRAP CARD!" reference.

-20 points for 4Kids not doing the same.
@ Niomo

There was a trap card reference in the last post, didn't want to look like I was getting stale.
Forget the Heart of the Cards! It's time to start trusting in the Power of Attorney!!
And where's Judge Man when you need him?
So why hasn't 4kids just disappeared yet?
Correction 4 kids is a television production company. The issue that TV Tokyo's had with them was over a rumor side deal with Funimation for right to distribute Box sets of the popular series Yu-gi-oh which didn't work well with TV Tokyo and Nihon Ad.
@ Penku

What are you correcting? The original article stated that much, and it's not much of a rumor when that information shows up in TV Tokyo's audit of 4Kids. TV Tokyo and Nihon Ad didn't have an issue with deals being made for distribution, it was 4Kids's right to make those deals. The issue they have is that granting that right meant they were to be paid if it happened, and they allege 4Kids hid that distribution deal and withheld money because of it.
Yugi's preparing for a mind crush.
Yeah well they might expose kids to anime, but I still don't agree with exposing ourselves to mutilated pieces of crap the shows end up being after passing them through the censorship and lets-find-the-most-inappropriate-and-stupid-voices-we-can-find shredders.

aka They don't have my sympathies.

I need to get myself the YGO series in Japanese with English subs. The legal way.
My mistake, I am sorry Bob my head was way out there. To be honest I don't really consider 4kids a Anime Company at all,All I know about 4kids is they are known to produce cartoons they have try to bring back Teenage Mutant Ninja Turtles and Biker Mice from Mars in truth they had some minor success but they still failed.

They ruined One Piece, they deserve to go bankrupt.

8:00 AM on 05.02.2012

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4Kids responds to Yu-Gi-Oh! lawsuit, ready to take action

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