According to Oregon Live, Adidas is suing THQ over a breach of contract when THQ failed to produce miCoach software for Adidas. This software was to be paired with a hardware device, similar to what Nike does with their Nike+ products.
An agreement between the two companies was reached back in December 2010 for the software and was slated to be launched this January. This, obviously, did not happen. The lawsuit alleges that the breach in agreement has cost Adidas roughly $10.6 million and is seeking compensation for that amount from THQ.
The lawsuit also states that THQ refused to turn over the game publishing materials to another developer of Adidas' choosing.
This lawsuit comes after the news that THQ was already hitting some hard financial times, including a stock price at about $0.53 per share and a potential NASDAQ delisting.
An agreement between the two companies was reached back in December 2010 for the software and was slated to be launched this January. This, obviously, did not happen. The lawsuit alleges that the breach in agreement has cost Adidas roughly $10.6 million and is seeking compensation for that amount from THQ.
The lawsuit also states that THQ refused to turn over the game publishing materials to another developer of Adidas' choosing.
This lawsuit comes after the news that THQ was already hitting some hard financial times, including a stock price at about $0.53 per share and a potential NASDAQ delisting.