The United States Securities and Exchange Commission filed charges of misfiling crucial loan documents against SouthPeak Interactive (Two Worlds II) back in November, or, more specifically, the publisher’s chairman Terry Phillips. No word had been given once charges were filed, but SouthPeak has ended the matter relatively quickly, settling out of court for an undisclosed […]
Amidst the after-math of its own legal battles, Southpeak Games has become the target of the U.S. Securities and Exchange Commission. Specifically, the charges alleged against the Two Worlds developer’s chairman Terry Phillips and CEO Melanie Mroz include mis-reporting of company finances and failure to follow government regulations on internal accounting. The company received Wells […]
In a sales report listing a slight decline in overall profits, developer Southpeak Interactive cites the CDV litigation as what increased their losses for the fiscal year (which ended June 30th.) Overall, however, losses were at a 32% decline over last year’s numbers.