Wal-Mart and GameStop were again Activision’s largest customers in the fiscal year ended March 31, Activision said in a 10-K SEC filing Friday. Wal-Mart accounted for a notably lower percentage of Activision revenue than the previous year, while GameStop represented a somewhat higher percentage of its sales. Wal-Mart accounted for about 14 percent of Activision sales this time, down from 22 percent. GameStop accounted for about 13 percent of Activision sales, up from 8 percent, the publisher said. Activision’s work force grew to about 2,640 from about 2,125 a year ago, it said. At year-end it had about 1,200 employees in product development, versus 500 each in North American and international publishing, 170 in operations, corporate finance and administration, and 270 in European distribution, it said. Separately, a June 30 court hearing will address a suit that Activision investor Wayne County Employees’ Retirement System filed Feb. 8 against the publisher and Vivendi in Delaware Chancery Court, Activision said. The suit challenges the pending merger of Activision and Vivendi Games (CED Dec 4/07 p3), claiming that Activision board members failed in their fiduciary role in the matter by “surrendering” negotiations to “conflicted management,” that those breaches were aided and abetted by Vivendi and that a preliminary proxy statement contained false and misleading statements. Activision and Vivendi moved last month to dismiss the suit and the June 30 hearing will address that, as well as the plaintiff’s motion for a preliminary injunction, Activision said. Final briefings on the motions are to be filed with the court June 27, it said. Separately, a settlement was reached in principle that would end a series of derivative stockholder suits that had been consolidated into one dispute, Activision said. The suit accused some current and former Activision board members and officers of illegal stock option practices. Both sides signed a “Stipulation of Settlement” May 8 in which neither Activision nor any of the settling parties admitted to any liability or wrongdoing, Activision said. But Activision would pay $10 million to plaintiffs’ attorneys for their fees and expenses, and those lawyers will also be entitled to 15 percent -- up to $750,000 -- of any payment made by Activision’s insurance carriers in connection with the settlement, it said. The publisher had yet to reach agreements with its insurers related to the settlement, it said. The settlement was filed May 12 and was preliminarily approved by U.S. District Court, Los Angeles, Activision said. The settlement is still subject to final court approval and a hearing, at which shareholders will have the opportunity to object, is scheduled for July 21.
Pursuant to the Offset Act1, also known as the Byrd Amendment, U.S. Customs and Border Protection has issued a notice of its intent to distribute assessed antidumping or countervailing duties for fiscal year 2008. Certifications to obtain a continued dumping and subsidy offset under a particular AD/CV order or finding must be received by July 29, 2008.
The International Trade Administration has issued its preliminary results of the following antidumping duty new shipper reviews:
U.S. Customs and Border Protection has issued a CSMS message providing a corrected email address for its Technology Support Center (previously known as the ACE Help Desk). The correct address is: CBP.Technology.Support@DHS.gov. (See ITT's Online Archives or 05/30/08 news, 08053050 3, for BP summary on the contact information for the center.) (CSMS 08-000095, dated 05/30/08, available at http://apps.cbp.gov/csms/viewmssg.asp?Recid=17103&page=&srch_argv=08-000095&srchtype=all&btype=&sortby=&sby)
The International Trade Administration has published its antidumping duty order on light-walled rectangular pipe and tube from Turkey.
The International Trade Administration has issued a notice stating that it is postponing the preliminary antidumping duty determinations on uncovered innerspring units from China, South Africa, and Vietnam by 50 days to July 30, 2008.
The International Trade Administration has issued its final results of the antidumping duty administrative review of certain forged stainless steel flanges from India for the period of February 1, 2006 through January 31, 2007.
U.S. Customs and Border Protection has issued its weekly tariff rate quota and tariff preference level commodity report as of May 27, 2008. This report includes TRQs on various products such as beef, sugar, dairy products, peanuts, cotton, cocoa products, tobacco, certain BFTA, DR-CAFTA, Israel FTA, JFTA, MFTA, SFTA, UAFTA (AFTA) and UCFTA (Chile FTA) non-textile TRQs, etc. Each report also includes the AGOA, ATPDEA, BFTA, DR-CAFTA, CBTPA, Haitian HOPE, MFTA, NAFTA, SFTA, and UCFTA TPLs and TRQs for qualifying apparel and/or other textile articles, the TRQs on worsted wool fabrics, etc. (CBP's weekly TRQ/TPL commodity report available at http://www.cbp.gov/xp/cgov/trade/trade_programs/textiles_and_quotas/commodity/)
The International Trade Administration has made a preliminary affirmative antidumping duty determination that sodium metal from France is being, or is likely to be, sold in the U.S. at less than fair value.
The International Trade Administration frequently issues notices on antidumping and countervailing duty orders, investigations, etc. which Broker Power considers to be "minor" in importance as they concern actions that occur after an order is issued, neither announce nor cause any changes to an order's duty rates, scope, affected firms, or effective period, etc.