Tecmo stock down 10 percent after Itagaki departure

Tecmo stock down 10 percent after Itagaki lawsuit.

Tecmo Ltd stock has dropped over 10 percent following Tomonobu Itagaki’s highly publicized departure from Team Ninja earlier in the week. Itagaki is seeking 148 million yen in damages over an unpaid bonus for the completion of Dead or Alive 4, and claims Tecmo president Yoshimi Yasuda told him to “quit the company or sue it” if he was unhappy with the decision not to pay up. Tecmo responded to the suit, calling Itagaki’s comments “distortions” - however the share price dropped from 1102 to 985 yen on Wednesday morning - a 10.6% drop.

Story via GamesIndustry.biz
Image via Kotaku

Read More: Industry, Tecmo, Tomonobu Itagaki

This entry was posted by Tim Hanlon on Thursday, June 5th, 2008 at 8:39 am and is filed under Industry. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.