Any lawyers on MAACA?
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necro_nemesis
May 18, 2010, 10:44am Report to Moderator

Hey Bucko, you're up.
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I thought you worked out an amicable agreement with WMS by pulling certain items.

Who is the problem now;

WMS, Pinball Factory or Illinois?

My bet is on door number 2.




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machine.slave
May 18, 2010, 10:49am Report to Moderator

I'LL TAKE YOUR HOUSE!!
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WMS is happy with our resolution, TPF is seeking damages.

You also need to keep in mind, Mr. Gillard was a respected and reputable pinball hobbyist back when WMS sold him the license to use their IP's.  Now.. not so much.

By the way, WMS remains the controlling party of their IP's here.


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necro_nemesis
May 18, 2010, 10:58am Report to Moderator

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TPF bought rights in 05. How long does he have?

Hmmm. That doesn't compute. WMS is ok and TPF isn't. I'm not a lawyer but it sounds like you have a case.



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wbradley
May 18, 2010, 11:39am Report to Moderator

Is it an atom? No, it's multiball!
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WMS is a very different entity than it was back in '89. There isnt a trace of Neil Nicastro or his dad that I can see,  based on the current corporate profile.The Nicastros were the ones that bought the business and spun it off into a public offering in the late 80's, giving them the capital to buy up Bally/Midway and then spin off Midway as a separate entity I believe. They did what they had to for the stockholders back then. In the end it was probably a smart financial decision.

Now, the company is deeply dedicated to lottery (Powerball, etc) and video casino hardware. The big cash also comes from leasing for revenue share to casinos, many which have opened in the last decade for the benefit of native groups.

I have been watching the stock, WMS on the NYSE for quite some time and they made a hell of a surge after the big collapse of the banking system in the US. The only reason I dont own shares is the lack of a dividend paid. Growth wise, they have done phenominally well in tha past 18+ months.

While the WMS pinball licensing is an asset, I am sure they dedicate little more than legal administration and accounting for that business these days. It's the little guys, TPF and IP who need to protect themselves. Any businessman in the 7 figure investment range will need to keep the dogs on attack mode or else devaluate their business.  On the other hand, there is no reason to believe that dealing internationally for punitive damages likely in the 5 figure range net will be worth their while. However, they are proving this is not to be taken lightly.

A lesson learned here? For sure.  Damages to be awarded? Very doubtful.

Again they are proving they are not to be taken lightly. And it might be costing them money to do so, so dont give then a reason to want to try and recoup any expenses.


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