Heads up, Terminator fans. Forget about our impending doom at the cold metallic hands of our future robot overlords for a sec and check out this new Terminator Salvation trailer. The vid is comprised of scenes showing of the game's rail shooting sequences.

PS Home Community Manager CydoniaX has revealed that several features are in development that a lot of PS3 owners have been clamoring for, particularly cross-game chat and voice messaging. More details after the link.

Update: CydoniaX clarifies on a few things.

I can already hear the Jigsaw Killer (from Saw) in his deep, murderous voice, "You have 50 days." Midway Games has exactly that amount of time to rack up US$ 150 million dollars or it's game over. So much money in so little time. Is this the end of of the guys who brought us Mortal Kombat? Read more in the full article.

Just as it looked like Take-Two finally got a chance to take a breather after all of their legal woes, here comes another lawsuit. This time, it's from none other than a former exec of the company itself.

Following Electronic Arts' press release yesterday about their video game for Harry Potter and the Half-Blood Prince being delayed to summer of next year, an SEC document reveals some info on how much the company stands to lose. Since the game won't be released this year, their projected forecast for the 2008 fiscal year report would be US$ 120 million short!

Looking forward to Guitar Hero: Aerosmith (Xbox 360, PlayStation 3, Wii)? Well, here's more licensed goodness coming your way. It was recently revealed that Activision will be rolling out Guitar Hero: Metallica. If that's not enough, the official name of the the next James Bond video game was also revealed. Head on over to the full article for more information.

Take-Two already has its hands full with Grand Theft Auto 4's quite disappointing delay, but there are more problems to come as the games publisher has received a "Wells" call from US Securities and Exchange Commission (SEC) staff.

The notice was aimed to inform Take-Two that it is already well under investigation about the stock options fraud committed by its former management, and that there will be enforcement proceedings to be filed against them in the near future. In light of Take-Two's crisis, analyst Michael Pachter gives his opinion about Take-Two's possible responses to the lawsuit.

Basically, a "Wells" notice informs companies or individuals that an investigation concerning their alleged violation of the law has been completed. The SEC staff is currently seeking SEC's approval to file charges against Take-Two and demand "civil monetary penalty", which roughly translates to a pricey fine. Pachter mentioned only two possible options for Take-Two: to litigate or pay the penalty. He continued that it is possible that Take-Two would choose to cooperate and just pay the penalty, which may amount to US$ 10 million. The analyst also noted that it took Take-Two six days before notifying the investors after receiving the "Wells" notice, which he considered odd.

For those who weren't aware, Take-Two's founder Ryan Brant pleaded guilty to the the civil charges the SEC filed against him, with their former lawyer and accounting officer pleading guilty to falsifying stock-related information as well. The fraud has gravely cost Take-Two in settlements alone, amounting to about U$ 7.3 million last February.

Take-Two Interactive Software, Inc. has revealed that it has received a Wells notice from the U.S. Securities and Exchange Commission (SEC). This according to Reuters.

The Wells notice indicates that charges may be filed against Take-Two by the SEC concerning the stock options debacle that hounded the company in the past. According to Reuters, Take-Two revealed in an SEC filing that the company was informed by SEC staff who planned to get authorization from the Commission to file charges as well as go after a civil monetary penalty.

This is the latest blow against Take-Two. Earlier this month, the company announced that it will be delaying the release of Grand Theft Auto IV (PlayStation 3, Xbox 360). The release date for Manhunt 2 (Wii, PlayStation Portable, PlayStation 2) has also been changed. Take-Two still has one final chance to try and convince the SEC not to file charges.

Immersion Corporation has finally responded to Microsoft's new lawsuit concerning the rumble maker's settlement with Sony. If you missed our last report, the whole fiasco involves Microsoft' claiming that Immersion owe them part of the settlement fee the latter got from Sony.

Now Immersion is saying that Microsft has already received its share. It was reported that Sony paid Immersion around US$ 150 million. However, things get tricky if you've read Immersion's official filing with U.S. Securities and Exchange Commission (SEC). A part of that said filing reads,

Our net income was US$ 122.4 million for the three months ended March 31, 2007... The increase in net income was primarily due to the litigation conclusion and patent license from Sony Computer Entertainment of US$ 119.9 million and the extinguishment of the liability to Microsoft of US$ 15.0 million.

As you've read, the money that was given to Immersion is being classified under "litigation conclusion and patent license." One can easily assume that these words translate to settlement but you all know how litigations go - everything depends on the interpretation of documents.

We are not entirely sure if Microsoft sued immersion because its lawyers interpreted this differently, meaning there's more money behind these. However, the father of rumble technology is keeping firm with its earlier stand saying,

Immersion believes that it is not obligated under the sublicense agreement with Microsoft to make any payment to Microsoft relating to the conclusion of its litigation with Sony Computer Entertainment. Immersion intends to defend this lawsuit vigorously.

As part of their filing of an 8-K form after undergoing management changes recently, Take-Two Interactive disclosed that an informal probe by the Securities and Exchange Commission (SEC) has turned formal. This from Herb Greenberg's market blog on Market Watch.

The informal probe was originally just about stock options and was disclosed by Take-Two last July. According to Greenberg, Take-Two said that it was advised of the formal probe on March 15. The formal order "allows the SEC, among other things, to subpoena witnesses."

Greenberg surmises that the probe extends beyond the stock options issue, as suggested by the "among other things" phrase. Take-Two has already received multiple subpoenas from the New York County Grand Jury regarding accounting issues as well as the stock options issue.