A recent SEC filing has revealed that Atari is currently engaged in a legal battle that could see it lose lucrative anime license Dragon Ball Z, after it was served with a license termination notice by U.S. based anime distributor FUNimation.
Information contained in a recent SEC (Securities and Exchange Commission) filing has revealed that Atari is currently engaged in a legal battle that could see it lose lucrative anime license Dragon Ball Z. The SEC filing, part of the recently announced new funding for the publisher, states that U.S. based anime distributor FUNimation “delivered a notice purporting to terminate the license agreements based on alleged breaches of the license agreements”. The details of the alleged breach are not given, but Atari is apparently confident it has “valid defenses to the purported termination”. In the meantime Atari has continued to distribute new Dragon Ball Z titles, as per its two license agreements with FUNimation. The two companies are currently discussing a “standstill” agreement to attempt to resolve the issues that lead to the original termination notice. The Dragon Ball Z franchise, publishing in Japan by Namco Bandai, has proven highly lucrative for Atari over the years - and as the company’s own SEC filing indicates, the loss of the license “could have a material adverse effect on the Company's results of operations and financial position”.
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