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Toymaker Jakks Pacific Faces Shareholder Suit Over WWE Bribery Charges

Authored by Mark Hefflinger on November 17, 2004 - 5:02am.
Bala Cynwyd, Pa. -- A shareholder class action lawsuit has been filed against toymaker Jakks Pacific, in connection with the company's alleged engagement in bribery and fraud in order to obtain a license to create video games with World Wrestling Entertainment (WWE). The shareholder action, filed by the law firm of Schiffrin & Barroway, LLP, argues that the company's stock and shareholders have been negatively affected by the alleged bribery scheme; shares of Jakks Pacific have fallen from $24.15 before the WWE lawsuit was filed to under $13 per share, and are now hovering just above $17 per share.
http://biz.yahoo.com/prnews/041116/phtu043_1.html 
http://www.jakkspacific.com 
http://www.sbclasslaw.com 

tags: WWE | Shareholder | Toymaker | Jakks |

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