The Sphere
General Garbage => Tropical Paradise of Hard Shelled Fruits => Topic started by: blanktoe on Jun 03, 2005, 01:57:11 AM
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http://money.cnn.com/2005/06/02/news/midca....reut/index.htm (http://money.cnn.com/2005/06/02/news/midcaps/dreamworks.reut/index.htm)
DreamWorks sued over 'Shrek 2'
Shareholders say the company hid sagging first-quarter DVD sales of the animated hit.
June 2, 2005: 4:49 PM EDT
Dreamworks shareholders sued the company Thursday, accusing company officers for failing to disclose a drop in sales for "Shrek 2."
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LOS ANGELES (Reuters) - DreamWorks Animation got hit Thursday with its first shareholder lawsuit since going public -- a proposed class-action accusing company officers of misrepresenting DVD sales for "Shrek 2."
The lawsuit, filed in Los Angeles federal court, claims DreamWorks CEO Jeffrey Katzenberg and Chairman Roger Enrico failed to disclose in the first quarter that sales of "Shrek 2" DVDs were declining far more than expected.
The suit says DreamWorks (down $0.35 to $29.75, Research) continued to ship the title "far in excess of the actual demand" and hid the fact that retailers were returning "massive amounts" of unsold DVDs.
DreamWorks spokesman Bob Feldman said the company had not seen the lawsuit but called the claims "baseless."
"We believe the suit is completely without merit and we intend to defend ourselves vigorously," Feldman said.
DreamWorks Animation stunned investors on May 10 by reporting that first-quarter DVD sales for "Shrek 2" fell far short of the company's earlier projections and that the Glendale, Calif., studio would realize no revenue from the title in the quarter.
Katzenberg said DreamWorks had overestimated retail sales of "Shrek 2," and had been saddled with returns of unsold discs from retail outlets. The announcement during the company's May 10 earnings call sent DreamWorks shares tumbling 12 percent the next trading day.
The title, which broke all box office records for an animated feature last year, sold 33.7 million DVD units in the holiday fourth quarter, Feldman said.
Feldman said that despite sluggish first-quarter sales of 1.3 million units, DreamWorks has not revised its projection for worldwide "Shrek 2" DVD sales of 40 million units.
"Shrek 2" has logged sales of 35 million discs to date.
DreamWorks stocks sank another 7 percent Tuesday, after the debut of "Madagascar" over the long holiday weekend failed to meet analysts' expectations. The shares fell another 1.5 percent Thursday.
I hope this might signal these guys to take a chance on 2-D movies.
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Eh, it sucked.
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I'd sue over Shrek 2 on account that I actually sat through the whole thing except that I saw it for free. Everything besides Puss 'n Boots was ass.
Madagascar looks like shit. Who green-lights this tripe? I can't fathom being one of those big-type producer suits, actually having money and influence in the entertaiment industry, then putting it behind this sucky crap Dreamshits squirts out.
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I dunno. You'd think the company would have been crucified after Antz came out...
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Madagascar looks like shit. Who green-lights this tripe? I can't fathom being one of those big-type producer suits, actually having money and influence in the entertaiment industry, then putting it behind this sucky crap Dreamshits squirts out.
(http://img.photobucket.com/albums/v470/blanktoe/dreamworks.jpg)
:unsure:
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Ha ha. They aren't the only ones though, just because it's their company. Somewhere out there, a whole roomful of suits meets to greenlight stuff.
Produced by
Teresa Cheng .... producer
Mireille Soria .... producer
These two bitches for starters....
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What probably happens is they give these ideas to a test audience, when the response comes back as "gay", they take it as a positive comment. They go on to pitch the movie as "a fun animated romp with all the heart of Queer Eye."
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If it truly had all the heart of Queer Eye, I'd be there watching it and oohing and aweing over the lion's vintage belt and coordinated neckerchief, instead hunching over my keyboard and bitching about it.
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Hey, King Arthur was pitched as being "epic" and "a true story".
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It was in dire need of "and the Knights of Justice" in the title.
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The best thing King Arthur's ever been in is Capcom's Knights of the Round. Excalibur, ho!
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Heh... That would have made it worth-seeing in my book. I've still actually yet to see it. I ALMOST saw Kingdom of Heaven, but saw Sin City for a second time.
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I've had arguements with customers over whether or not King Arthur was historical. I'm serious.
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Oh yeah? Which side were you for?
I heard it was inspired by a DC comic book.
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Well at least you won't have that arguement over Stargate, Megan. Not now with that facial reconstruction coming out that makes Tutankhamen look like Jaye Davidson.
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Well at least you won't have that arguement over Stargate, Megan.
Who says he doesn't?
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I do. Everything will be clearer to you once Amazon.com finally ships me my yellow wheelchair.
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You could be a greeter at Wal*Mart!
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But I'm not old and racist.
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You are obnoxious and judgemental, though.
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But not old and racist.
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I'm young and racist. Does that count?
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Only if you look old.
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Damnit.
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Go wrinkle yourself if it's so important to you.
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But how!?
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But how!?
Force Lightning. You should know the trick.
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I saw what it did to Palpy. He fucked himself up enough, I'll just choke people.
*points at Fiero* I find your lack of faith distrubing.
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Your mom goes to college.
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At least she could give good enough head to get into college.
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But how!?
Force Lightning. You should know the trick.
HAHAHA!