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Herve Caen talks as does California Labor Director
Company News - posted by Saint_Proverbius on Sat 5 June 2004, 02:41:36Tags: Herve Caen; Interplay
Interplay CEO Herve Caen has decided to answer GameSpot's recent probings in to the stuff surrounding the company in this article of doom. Here's a clip:
That is, until now. Last night, GameSpot talked with the surprisingly affable Caen, who denied the end was nigh for Interplay. His proof? "You can see our stock is trading, so we're still here," said Caen.
But when asked whether or not Interplay was facing eviction from its Irvine, California, offices or was laying off staffers, Caen's answers grew less direct. "I can't comment one way or the other," he said. "I'm bound by disclosure rules because we're a publicly traded company, so I can't say anything outside of press releases or official SEC filings." When asked when the next official SEC filing would be, Herve said, "I can't answer that. If I tell you, I'll have to tell everyone."
Yeah, the stock is still trading, but it's nigh worthless, isn't it?
And about those disclosure rules, Herve, aren't you late with filing your earnings report for Q1 by several weeks now? I think you are.
Also, a company that's in business tends to pay their employees, something Interplay is getting in a bit of trouble with the California Labor Board over right now. Whoops. Here's a bit from OC Register on that:
Five employees of the computer-game developer filed reports this week with the state's Department of Industrial Relations, Division of Labor Standards Enforcement claiming Interplay hasn't paid them several thousand dollars in wages in the past month. Interplay resolved two employee complaints over bounced paychecks in April.
"We've got seven claims in, which is enough for us to believe that the problem goes beyond these seven employees," said Dean Fryer, spokesman for the California Labor Commissioner. "We want to find out if indeed employees haven't been properly paid and have proper workers compensation. If not, we could close the business down."
Interplay already faces eviction from its landlord, Arden Reality, which hasn't received a rent payment on the 81,000-square-foot Irvine office space since January. Interplay, which has said it would run out of money by July, also owes $179,000 in payroll taxes and penalties, according to regulatory filings.
Five months behind on rent, that's $750,000 right there in back rent alone.
Thanks, MageDragon of PlanetBG and Briosafreak from NMA.