'Speed Racer' Creator Sues Over Licensing Profits

Law360, New York (January 20, 2012, 4:46 PM EST) -- Japanese animation company Tatsunoko Production Co. Ltd. lodged a suit in California state court Thursday alleging Speed Racer Enterprises Inc. continued to profit from “Speed Racer” intellectual property after its licensing agreement had expired.

Tatsunoko alleges that after a licensing agreement expired in 2010, U.S.-based SRE misappropriated the subject rights to its own benefit by failing to properly transfer the rights back to Tatsunoko in a timely manner, according to the complaint filed in California Superior Court in Los Angeles County.

The animation company further alleges...
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