Majesco Settles Multiple Shareholder Lawsuits

Publisher Majesco (Cooking Mama) has settled several shareholder lawsuits, paying undisclosed amounts of cash and $2.5 million in common stock to halt a class action lawsuit, as well as a separate action filed by previous activist shareholder Trinad Capital Master Fund.

As part of the settlement, Majesco, which was the subject of multiple lawsuits in 2006 over the collapse of its high-end publishing business after the sales failure of games such as Advent Rising and Psychonauts, denied it had acted improperly, settling to avoid the "uncertainty, expense and distraction" of a protracted legal battle.

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