Sadly, our site isn’t the first to break this news, but it’s important enough that I want it seen by whatever means; thus, in this case I’m willing to hit the bandwagon.
It appears Midway Games is being nailed with a minimum of four class action lawsuits related to both failures to disclose actual financial performance of the company and insider trading at the executive levels, including the company’s current president and CEO. More details are via Gamasutra’s Industry News page.
Midway’s product line in recent years has been somewhat dominated by the Mortal Kombat games, though they have authored a few interesting new intellectual properties as well (including the forthcoming Stranglehold). My memories of Midway go much farther back, to the days of Joust and Sinistar. Back in gaming’s younger years, Midway introduced some of the coolest arcade quarter-munchers you could spend your money on. Despite their more recent shift in emphasis, I still have many fond memories of their product. I’ve also always loved Mortal Kombat, despite its camp and kitsch. It saddens me to see Midway in these straits, and while I hope anyone guilty of insider trading for advantage does get their just deserts, I also hold out hope that Midway itself survives the incident, at least in some form.