Charges Cleared for Former Midway Executives
October 27, 2009 | 6:49 PM PST
by: Eric Jones
Looks like the business of now-defunct publisher Midway can almost finally be put to rest. A federal court ruled today ruled in favor of the company, in regards to a suit brought against them by former Midway shareholders earlier this year.
The suit claimed that Midway executives such as CEO David Zucker and CFO Thomas Powell deceived said shareholders of the company's issues, while simultaneously selling their own shares in the company. However, the judge ruled that Midway never "said or did anything more than publicly adopt a hopeful posture that its strategic plans would pay off."
Of course, most of Midway is now owned by Warner Bros., meaning the company's classic franchises will still live on in some form. Still, sometimes it's worth remembering the past.
source: Chicago Sun-Times
















