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CDV Software Drops All Legal Claims Against SouthPeak Interactive

^{Published on 2010-11-09 10:42:06 - Market Wire}
 

MIDLOTHIAN, Va.--([ BUSINESS WIRE ])--SouthPeak Interactive Corporation (OTC BB: SOPK) today announced that CDV Software Entertainment A.G. (CDV) has waived all disputed claims against SouthPeak and its subsidiaries. Based on the resolution of CDV and SouthPeaka™s legal disputes, SouthPeak has been alleviated of all alleged financial obligation to CDV.

Melanie Mroz, President and CEO of SouthPeak Interactive, commented, aWe are pleased to have resolved our dispute with CDV. This resolution, and the closure of the case by the courts, puts an end to the misleading and inaccurate information circulating in the public regarding these matters, and allows us to re-direct attention toward driving the continued growth of the Company. We have an exciting slate of releases scheduled for the remainder of calendar 2010 and 2011, including new titles and sequels to popular franchises, and with these matters behind us, we are able to focus more intently on bringing these games to market and on achieving our strategic and operational objectives.a

About SouthPeak Interactive Corporation

SouthPeak Interactive Corporation develops and publishes interactive entertainment software for all current hardware platforms including: Xbox 360® videogame and entertainment system from Microsoft, PlayStation®3 computer entertainment system, PSP® (PlayStation® Portable) system, PlayStation®2 computer entertainment system, Wiia", Nintendo DSa", iPhone and Windows PC. SouthPeak's games cover all major genres including action/adventure, role-playing, strategy, racing, puzzle, sports and edutainment. SouthPeak's products are sold in retail outlets in North America, South and Central America, Europe, Australia and Asia. SouthPeak is headquartered in Midlothian, Virginia, and has offices in Grapevine, Texas and Leicester, England.

SouthPeaka™s extensive portfolio of over 60 interactive entertainment games spans a variety of platforms and genres including RPG, simulation, FPS, sports, strategy, puzzle and fighting.

For additional information, please visit SouthPeaka™s corporate website: [ www.southpeakgames.com ]

If you would like to be added to SouthPeaka™s email list to receive news directly, please send your request to [ southpeak@tpg-ir.com ].