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 Send to email | Former Midway Bosses, Board Members Sued For "Corporate Waste" [Business] in Business LawLegalMidwayNews |  By Luke Plunkett
el 12-May-2009 |  And the soap opera surrounding the demise of Midway continues! This week, stay tuned as former majority shareholder Sumner Redstone and several former board members are sued for "corporate waste and unjust enrichment".
The suit has been filed by Midway's creditors, who cite "a series of disastrous and ill-advised financial transactions that largely occurred during 2008" as inspiration. According to the creditor's allegations, a number of dealings surrounding the company's sale to Mark Thomas last year were engineered by Redstone and Thomas "to the detriment of Midway". In a nutshell, this means that the former bosses of the company stand accused of neglecting their duties as the captains of Midway in favour of making a buck while the ship sank. The creditors are seeking to have the transfer of ownership from Redstone to Thomas ruled fraudulent, and overturned, as well as being awarded $90 million that they allege Redstone flagged as being "debt" when it was nothing of the sort. Midway Creditors Sue Redstones, Board Members Over Sale of Company [Gamasutra]
 
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 | Kotaku`s The Gamers Guide |  Blogger | XBOX 360 Gamers Weblog
Gossip, news and leaks for obsessive gamers Kotaku As if you don't waste enough of your time in a gamer's haze, here's Kotaku: a gamer's guide that goes beyond the press release. Gossip, cheats, criticism, design, nostalgia, pred |
| Joystiq | Blogger | Covers video game news from an independent, unbiased perspective
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| Creditors fight back: MIdway gets sued | 
Sumner Redstone, his daughter Shari (a former Midway board member, mind you) and the mysterious Mark Thomas are all being sued, among others, by the various creditors that a nearly penniless Midway owes money to. Gamasutra obtained a c [..] Read complete article | | Published 12-May-2009 by Ben Gilbert in
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| Joystiq | Blogger | Covers video game news from an independent, unbiased perspective
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| SCi board welcomes bailout members |  Filed under: Business
MCV reports that Warner Bros. Home Entertainment president Kevin Tsujihara has joined the board of SCi, parent company of Eidos, as non-executive director. Tsujihara's position is par [..] Read complete article | | Published 12-Jun-2008 by Alexander Sliwinski in eidossciwarner-bros
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| Kotaku`s The Gamers Guide | Blogger | XBOX 360 Gamers Weblog
Gossip, news and leaks for obsessive gamers Kotaku As if you don't waste enough of your time in a gamer's haze, here's Kotaku: a gamer's guide that goes beyond the press release. Gossip, cheats, criticism, design, nostalgia, pred |
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And the soap opera surrounding the demise of Midway continues! This week, stay tuned as former majority shareholder Sumner Redstone and several former board members are sued for "corporate waste and unjust enrichment". The suit has been filed by Midway's creditors, who cite "a series o [..] 
