Author Topic: DreamWorks sued over 'Shrek 2' (Read 3670 times)

blanktoe · « **on:** Jun 03, 2005, 01:57:11 AM »

http://money.cnn.com/2005/06/02/news/midca....reut/index.htm

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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.

Derrick · « **Reply #1 on:** Jun 03, 2005, 09:29:23 AM »

Eh, it sucked.

B E C K · « **Reply #2 on:** Jun 03, 2005, 11:00:07 PM »

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.

Extra Zero · « **Reply #3 on:** Jun 03, 2005, 11:09:15 PM »

I dunno. You'd think the company would have been crucified after Antz came out...

blanktoe · « **Reply #4 on:** Jun 03, 2005, 11:11:43 PM »

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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.

:unsure:

B E C K · « **Reply #5 on:** Jun 03, 2005, 11:24:01 PM »

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.

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Produced by
Teresa Cheng .... producer
Mireille Soria .... producer

These two bitches for starters....

Extra Zero · « **Reply #6 on:** Jun 04, 2005, 12:23:56 AM »

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."

B E C K · « **Reply #7 on:** Jun 04, 2005, 12:25:56 AM »

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.

Extra Zero · « **Reply #8 on:** Jun 04, 2005, 12:27:32 AM »

Hey, King Arthur was pitched as being "epic" and "a true story".

B E C K · « **Reply #9 on:** Jun 04, 2005, 12:38:45 AM »

It was in dire need of "and the Knights of Justice" in the title.

jonhammstein · « **Reply #10 on:** Jun 04, 2005, 12:44:15 AM »

The best thing King Arthur's ever been in is Capcom's Knights of the Round. Excalibur, ho!

Extra Zero · « **Reply #11 on:** Jun 04, 2005, 12:45:16 AM »

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.

MegatronYES · « **Reply #12 on:** Jun 04, 2005, 03:18:11 AM »

I've had arguements with customers over whether or not King Arthur was historical. I'm serious.

jonhammstein · « **Reply #13 on:** Jun 04, 2005, 03:43:30 AM »

Oh yeah? Which side were you for?

I heard it was inspired by a DC comic book.

B E C K · « **Reply #14 on:** Jun 05, 2005, 02:05:34 AM »

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.

Extra Zero · « **Reply #15 on:** Jun 05, 2005, 02:08:40 AM »

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Well at least you won't have that arguement over Stargate, Megan.

Who says he doesn't?

B E C K · « **Reply #16 on:** Jun 05, 2005, 02:12:50 AM »

I do. Everything will be clearer to you once Amazon.com finally ships me my yellow wheelchair.

Extra Zero · « **Reply #17 on:** Jun 05, 2005, 02:14:08 AM »

You could be a greeter at Wal*Mart!

B E C K · « **Reply #18 on:** Jun 05, 2005, 02:20:21 AM »

But I'm not old and racist.

MegatronYES · « **Reply #19 on:** Jun 05, 2005, 03:48:30 AM »

You are obnoxious and judgemental, though.

B E C K · « **Reply #20 on:** Jun 05, 2005, 04:21:08 AM »

But not old and racist.

Derrick · « **Reply #21 on:** Jun 05, 2005, 07:48:21 AM »

I'm young and racist. Does that count?

B E C K · « **Reply #22 on:** Jun 05, 2005, 09:16:38 PM »

Only if you look old.

Derrick · « **Reply #23 on:** Jun 05, 2005, 11:22:11 PM »

Damnit.

B E C K · « **Reply #24 on:** Jun 06, 2005, 01:32:39 AM »

Go wrinkle yourself if it's so important to you.

Derrick · « **Reply #25 on:** Jun 06, 2005, 12:11:35 PM »

But how!?

Fiero · « **Reply #26 on:** Jun 06, 2005, 09:08:59 PM »

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But how!?

Force Lightning. You should know the trick.

Derrick · « **Reply #27 on:** Jun 06, 2005, 09:57:21 PM »

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.

Fiero · « **Reply #28 on:** Jun 07, 2005, 08:05:43 AM »

Your mom goes to college.

Bitch · « **Reply #29 on:** Jun 07, 2005, 04:41:04 PM »

At least she could give good enough head to get into college.