Tatsunoko Settles Speed Racer Lawsuit

Tatsunoko Production has announced that its two lawsuits against American licensing company Speed Racer Enterprises (SRE) have been settled by mutual agreement. The settlement determined that SRE’s licensing agreement for the Mach Go Go Go franchise expired on May 31, 2011, and that SRE did continue to represent and exploit the license in deals with Lions Gate Entertainment and Toonz Entertainment after May 31, 2011. Tatsunoko originally sought $1 million in damages from SRE. The lawsuits have evidently been dropped with no monetary compensation in exchange for SRE admitting wrongdoing and terminating its business association with Tatsunoko, and the Speed Racer/Mach Go Go Go rights returning in full to Tatsunoko’s control.

Source: SciFi Japan