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Court dismisses suit against Jakks

August 30, 2008|From Times Wire Services

Shares of Jakks Pacific Inc., the toy maker that sells Dora the Explorer products, rose 7.1% after the company said the Connecticut state court had dismissed bribery and antitrust claims initiated by World Wrestling Entertainment Inc.

WWE filed a complaint against Malibu-based Jakks in October 2006 that alleged that there had been improper sales of WWE games in Asia, Jakks said in an Aug. 11 regulatory filing. Related litigation was filed in 2004 in federal court in New York and later dismissed.

Jakks and Agoura Hills-based THQ Inc., also named as a defendant in the case, are part of a joint venture with global rights to publish and market WWE video games.

Jakks shares rose $1.66 to $24.95, the biggest advance since February.

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