Pelican loses its law suit, allowing Mad Catz to finalize its first GameShark product for release.
Los Angeles Superior Court Judge Denies Electro Source Request to Prohibit Mad Catz from Selling Its GameShark Product
SAN DIEGO & TORONTO--March 3, 2003--Mad Catz Interactive, Inc. (AMEX/TSE: MCZ), the world's leading third party video game accessory manufacturer, announced that a Los Angeles Superior Court judge today denied the request of Electro Source, which does business as Pelican
Accessories, to prohibit Mad Catz from selling its GameShark product. The ruling clears the way for Mad Catz to release its first GameShark product offerings as scheduled this month.
In reaching its decision, the Court questioned the basis for Electro Source's lawsuit against Mad Catz and Fire International, Ltd.
Morris Perlis, President and Chief Executive Officer of Mad Catz Interactive, Inc., stated "We are delighted by the Los Angeles Superior Court's ruling. We have always believed that Electro Source's
action was brought solely to intimidate our retail partners and today's Court decision eliminates any uncertainty with retailers and
consumers alike as to whether GameShark will ship on time."
Jason Cooper, President of Fire International, Ltd., added, "The Court's decision confirms our belief that this is simply a case where Electro Source is trying to obtain a result in Court that they could
not achieve in the marketplace."
