The International Trade Administration (ITA) has issued the final results of its antidumping (AD) duty administrative review of saccharin from China for the period of December 27, 2002 through June 30, 2004.
The International Trade Administration (ITA) has made a preliminary affirmative determination that countervailable subsidies are being provided to producers and exporters of certain lined paper products from Indonesia.
The International Trade Administration (ITA) has issued a notice stating that it is postponing the preliminary antidumping (AD) duty determinations on certain lined paper products from India, Indonesia, and China to March 20, 2006 (from February 16, 2006).
Developer Lionhead Studios didn’t comment by our deadline about its plans for the game The Movies. Activision executives revealed in a conference call Mon. that the publisher scrapped plans to make console versions of the title because of weak consumer demand for the PC version out now (CED Feb 8 p6). Comments on Lionhead’s online message boards indicated the company remains committed to console SKUs, but a new publisher hasn’t been named. Activision, meanwhile, said in a 10-Q SEC filing late Wed. that “we expect sales of titles for the Xbox 360 to remain flat as a percentage of total net revenues dependent upon and consistent with the availability” of hardware. It also said in the filing that a hearing was scheduled that day in Cal. Superior Court (L.A.) relating to the shareholder derivative suit filed on behalf of the publisher in March 2004 against Activision CEO Robert Kotick and other company executives. The suit made the same basic charges as an earlier suit seeking class action status against Activision and certain executives, claiming the executives were guilty of securities violations including insider trading and breaches of fiduciary duty. Activision said the parties “agreed to a stipulation of settlement to be submitted to the court for preliminary approval.” The publisher said the settlement would require the dismissal and release of the alleged claims and “no cash recovery is to be paid to the plaintiff.” Activision said the settlement also includes a statement by the company that it “vigorously denies any assertion of wrongdoing or liability.” But Activision said it agreed to pay $200,000 in plaintiffs’ fees. The settlement also acknowledges that Activision “implemented certain enhancements to its corporate governance policies” after the suit was filed, it said. Activision didn’t comment by our deadline about the outcome of the court hearing. Separately, Schiffrin & Barroway became the latest firm to file a suit seeking class action status against Take-Two Interactive. Like the earlier suits (CED Feb 7 p8, Feb 6 p9, Feb 3 p9), it charged Take-Two and some officers and directors with securities violations including the failure to disclose that the controversial game Grand Theft Auto: San Andreas contained hidden sexual content mandating it be rated AO and not M. Take-Two took a significant financial hit after the Entertainment Software Rating Board (ESRB) discovered the content was included on discs of the game and required the game’s rating to be changed, causing most retailers to remove it from their shelves (CED July 22 p7, July 21 p4). The publisher didn’t comment by our deadline about the suits.
The U.S. Trade Representative (USTR) and the Agriculture Secretary have issued a statement regarding the World Trade Organization's (WTO's) preliminary finding that the European Union (EU) has a de facto moratorium on agricultural biotechnology products that is inconsistent with WTO rules. In their statement, the USTR and the Agriculture Secretary contend that agricultural biotechnology is a safe and beneficial technology that deserves timely, transparent and scientific review by the EU. (USTR/USDA statement, dated 02/07/06, available at http://www.ustr.gov/Document_Library/Press_Releases/2006/February/US_Trade_Representative_Rob_Portman_US_Agriculture_Secretary_Mike_Johanns_on_Agricultural_Biotechnology_the_WTO.html)
Loudeye continued a rash of major changes in its strategic operating plan released Wed. The company said it’s largely leaving the U.S. music market and focusing on European operations. In Dec. the firm closed lagging antipiracy unit Overpeer, which seeded P2P networks with “spoof” files (WID Dec 20 p3). About 80% of 4th-quarter revenue was generated from digital media store services, and nearly all of that came from Europe. The firm is moving its base for those services from the U.S. hq in Seattle to the European hq in London. The Seattle office will continue operating its digital media content services like encoding and samples. Loudeye has also scrapped plans to create a “custom digital music service for an unnamed North American retailer,” a launch that was previously delayed. The changes are expected to reduce costs $2.5 million a quarter -- 30% of 3rd quarter 2005 levels. Cost savings, including job cuts and “possible funded development,” will be realized before 2nd quarter, Loudeye said. The firm also released preliminary 4th-quarter results: $8.8 million revenue, up from $5.5 million in 4th quarter 2004 -- although that excludes Overpeer’s revenue, which will be included in the loss from discontinued operations. Digital media store revenue was $7.1 million, up 92% year-over-year. “Substantially all” 4th quarter growth came from “promotional services revenue from an Internet service provider in Europe,” Loudeye said. Quarterly gross profit is expected to be $1 million, and excluding Overpeer and “potential charges related to goodwill and other long-lived assets,” the company expects a “narrow” GAAP net loss relative to 3rd quarter 2005. The company warned it’s regularly experiencing “significant losses” and has limited cash reserves -- $10.8 million at the end of 2005 compared with $16.6 million at the end of Sept. Full-quarter and 2005 results are scheduled for release Feb. 23.
In its 12th week, the PS2 version of EA’s Need for Speed Most Wanted was again the #1-rented videogame in the U.S., according to Rentrak’s preliminary Home Video Essentials data for the week ended Feb. 5. The Xbox version fell one to #5. EA had one other title in the top 10: Madden NFL 06 for PS2 at #10, down 7 in its 26th week. Eidos and LucasArts Entertainment each had 2 SKUs in the top 10. Eidos’s were the PS2 and Xbox versions of 25 To Life at #2 again and #4 (up one), respectively, in their 3rd week. LucasArts’s were the PS2 and Xbox versions of Star Wars Battlefront II at #3 and #7, respectively, each up 3 in their 14th week. Rounding out the top 10 were 3 PS2 titles: Activision’s Gun at #6 (up 2 in its 13th week), THQ’s WWE SmackDown! Vs. Raw at #8 (down one in its 12th week) and 50 Cent: Bulletproof at #9 again in its 11th week.
The San Mateo County (Cal.) Superior Court granted final approval late last month to a settlement in a class action employee suit against Electronic Arts (EA), the publisher said in a 10-Q SEC filing Wed. The suit, filed July 2004, claimed the publisher improperly classified “image production employees” in Cal. as “exempt.” The court granted preliminary approval in Oct. of a settlement in which EA agreed to pay a lump sum of $15.6 million. EA said it paid that to a 3rd-party administrator during 2005’s 4th quarter to cover all claims allegedly suffered by the class members, as well as plaintiffs’ attorney’s fees and other case costs. EA’s filing also said a consolidated class action securities lawsuit by investors against it and some officers and directors was dismissed with prejudice Jan. 26 by a U.S. Dist. Court in northern Cal. But EA said there were still a shareholder derivative action pending in the same court and 2 shareholder derivative actions pending in Superior Court, San Mateo, that made the same basic claims as the earlier suits. EA also revealed that it agreed Feb. 7 to lease 94,782 sq. ft. of facilities space in Guildford, U.K. It said the deal was subject to renovations by the Standard Life Assurance Co. that expects to be done about June 1. At that time, EA said, it will enter into a 10-year lease and take possession of the facilities. The company said it plans to use the facilities “primarily as studio space for the development of our games.” Separately, another law firm -- Federman & Sherwood in Oklahoma City -- filed a lawsuit seeking class action status in N.Y.C., claiming that EA rival Take-Two Interactive violated securities laws by making material misrepresentations of its performance that artificially inflated the market price of Take-Two stock.
The International Trade Administration (ITA) has issued its preliminary results of this antidumping (AD) duty changed circumstances review of certain softwood lumber products from Canada.
The International Trade Administration (ITA) has issued its preliminary results of the following antidumping (AD) duty administrative reviews: