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I don't have the time to locate it again, but when the WWF first filed its lawsuit I tracked down the Complaint. The complaint claims that WWF hired an agent to assist it in seeking a company to produce ceratin products under WWF licensing and that its agent and JAKK's colluded to deceive WWF into entering a licensing agreement. It contained incredible details of bribery, agent payola, foreign bank accounts, fraud, collusion and deception which went all the way up to the president of JAAK's. Having listened in to some earnings calls, I was shocked to come to the conclusion Friedman and friends could have done the things they are accused of, but its all there in black and white.

The allegations were not legal techno bable. No maybe's or probablys. They contained exact details of names, places, account numbers, amounts. It was like reading a spy thriller (you lawyers can track it down on PACER). I concluded if WWF could prove even half of what it alleged with so much clarity, then they were likely to prevail and JAKK was going to be liable for big damages. The stock had dropped like a rock and I sold half of my position.

At some point after the lawsuit was announced, it started going back up, ala RIMM. There is no question in my mind the company is going to pay big bucks to settle and god forbid they should have a trial.

On the other hand, they seem to be doing everything else right - again ala RIMM.
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