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AimJunkies Countersuit Against Bungie Dismissed

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US District Court Judge Thomas Zilly has dismissed  complaint from cheat provider AimJunkies against Destiny 2 developer Bungie on the grounds that AimJunkies has failed to prove that Bungie illegally accessed the personal laptop of one of the company’s managers, James May, which was the main argument in their countersuit filed back in September, according to TorrentFreak.

AimJunkies owner Phoenix Digital Group then argued that Bungie broke Destiny 2’s Limited Software License Agreement and the Digital Millennium Copyright Act’s anti-circumvention provisions by hacking into May’s laptop between 2019 and 2021.

Per the report:

“May has failed to sufficiently allege that Bungie accessed his personal computer and files without authorisation,” the ruling said. “To support his allegation that Bungie accessed his personal computer, May relies on a document that Bungie purportedly produced during discovery in this matter.

“May, however, does not explain what this document is or how it evidences instances in which Bungie allegedly accessed his computer without authorisation and downloaded his personal information.”

“Importantly, neither May nor Phoenix Digital allege that Bungie accessed any copyrighted work. Further, Phoenix Digital has not pleaded any facts to support that its ‘loader software’ was protected by a technological measure.”

While the dismissal is certainly a blow to AimJunkies, they could still re-file the countersuit with some amendments.

 

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GameStop Continues Troubling Trend in Q3

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GameStop continues to see a dip in sales and Q3 data shows that the company is not showing that it can climb out of the troubling spot it has been in for the last few years, according to the company’s financial report.

The numbers demonstrate the financials for the three month period that ended on October 29th, 2022.

The numbers:

  • Net sales: $1.2 billion, down 8% year-over-year
  • Net loss: $94.7 million, down 10% year-on-year
  • Hardware and accessories: $627 million, down 6% year-over-year
  • Software: $352 million, down 19% year-over-year
  • GameStop’s net loss was down 10% compared to the same period last year, but still hit $94.7 million
  • Sales decreased across the board

In an earnings call (as transcribed via Seeking Alpha), Gamestop CEO Matt Furlong stated that the company would not provide “formal guidance at this time.”

“It is worth reiterating, however, that our goal is to achieve profitability in the near term,” he said.

“I want to finish by reiterating what we’ve said in the past. We’re attempting to accomplish something unprecedented in the retail sector. We’re seeking to transform a legacy brick-and-mortar business that was on the brink of bankruptcy into a retailer that meets customers’ needs through our stores, e-commerce properties and emerging sales channels. This path carries risk and is taking time, but it is the path we are on. With that said, GameStop is a stronger business today than at any time in the recent past.”

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Embracer Approved to Trade on Nasdaq Stockholm

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Embracer Group has officially been approved to trade on Nasdaq Stockholm, which is the main market for Nordic companies, and the company’s first day of trading on the market will happen on December 22nd.

Embracer was previously trading on Nasdaq First North Growth Market, where they have been listed since November 2016 under the name THQ Nordic AB, and its last day there will be December 21.

“The rationale for the listing in 2016, and the related capital raise was, among other things, to finance growth, facilitate the possibility of using the company’s shares as a means of payment in acquisitions, and strengthen the company’s profile and brand among investors, customers and within the sector in general,” the company said in an official announcement.

“The listing of the company’s class B shares on Nasdaq Stockholm is an important step in [its] continued development and has been a long-standing ambition of the company’s board of directors and management,” it continued.

“In addition to the fact that the listing on Nasdaq Stockholm provides a quality stamp for the company, the listing is also expected to make the company’s class B shares even more attractive as a means of payment, which may facilitate future acquisition discussions. Furthermore, the listing on Nasdaq Stockholm is expected to better reflect the maturity of the company from a capital market perspective and enable more institutional investors to invest in the Company’s class B shares.”

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FTC Reportedly Considering Lawsuit Over Microsoft Activision Deal

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The Federal Trade Commission is reportedly considering filing an antitrust lawsuit against Microsoft’s acquisition of Activision Blizzard and a potential suit could be underway as soon as next month, according to Politico.

Furthermore, the lawsuit may seek to block the record-breaking deal, according to sources in the report who also said that the FTC’s four commissioners are yet to vote on a complaint or meet with lawyers, but the bulk of the investigation has been completed.

A lawsuit is not guaranteed and the FTC has not made any formal announcements at this time.

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