Tecmo is not pleased. It says that rumored talk of some three dozen Team Ninja members bolting from the company along with Tomonobu Itagaki and filing suit against Tecmo, reports of which originated at 1UP, are false and inaccurate. "No such action is taking place at the company," reads an official statement forwarded to Kotaku.

According to Tecmo, only two employees have filed a lawsuit against the company, as previously reported. Tecmo claims that it notified "all affected employees that they would be appropriately compensated and is currently in the process of resolving the matter." It also goes on record as saying that reports that it had withheld information from shareholders regarding the lawsuit filed by Itagaki were, in short, hogwash.

Apparently, recent reporting on Tecmo's legal kerfuffle has caused "unrest" amongst company staffers, so the publisher and developer has asked us to "handle news reports concerning the above matters with care." Rest assured, Tecmo, that it is our policy to handle all news reports as if they were a brittle nest filled with the precious and fragile eggs of a hummingbird. Tecmo's full statement follows.

June 18, 2008

On and around June 15, 2008, various websites in the US reported a rumor about ?dozens? of development staff members resigning and filing a lawsuit against Tecmo, LTD., following Tomonobu Itagaki?s departure from the company. The rumors are false and no such action is taking place at the company.

On June 16, 2008, two employees filed a lawsuit against Tecmo, LTD. with accusations of withholding overtime pay. Although a lawsuit was filed by the two employees, on April 1, 2008, Tecmo, LTD. did notify all affected employees that they would be appropriately compensated and is currently in the process of resolving the matter. There are several inaccurate reports stating that all 300 company employees are named in the lawsuit and the company would like to clarify that only two employees are involved in the suit.

In addition, there were reports that Tecmo, LTD., a publicly traded company on the Tokyo Stock Exchange, withheld information from its shareholders regarding the lawsuit filed in May 2008 by Tomonobu Itagaki. The company has observed the provisions defined by the Exchange and has released information accordingly and in a timely manner.

It is unfortunate that false and inaccurate reporting of our organization and employees? actions have caused some unrest among our development staff members. Tecmo, LTD. would like to assure its partners and loyal fans that its teams continue to focus and work on several projects to be released and announced in the future. The company is committed to providing high quality, entertaining products for our fans around the world.

Your continued support of Tecmo, LTD. is appreciated and it is kindly asked that you handle news reports concerning the above matters with care.

Tecmo, LTD.