News Yu-Gi-Oh! Lawsuit Settled Between 4Kids, ADK, TV Tokyo
posted on 2012-03-01 19:30 EST
American production company 4Kids Entertainment announced on Thursday that there is an amicable settlement of the lawsuit between 4Kids Entertainment and Asatsu-DK (ADK) and TV Tokyo over the license of the Yu-Gi-Oh! property. According to 4Kids, the licensing agreement between the three parties will continue to be "in full force and effect with 4Kids continuing to serve as the exclusive licensing agent for the merchandise licensing, television broadcast, and home video rights to the Yu-Gi-Oh! property throughout the world outside of Asia."
The lawsuit was filed by TV Tokyo and Nihon Ad Systems last March, accusing the North American media distributor of "underpayments, wrongful deductions, and unmet obligations" and stating that 4Kids owed the companies US$4,792,460.36. Last December, a bankruptcy judge ordered that 4Kids' license of the Yu-Gi-Oh! series was still in effect, after earlier ordering a stay that barred ADK and TV Tokyo from selling the international license of the new Yu-Gi-Oh! Zexal anime series to other companies.
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