The firm has issued a statement addressing reports earlier this week that in excess of three dozen employees could walk out of the company over a disagreement concerning unpaid bonuses, and further reports that a lawsuit has been launched against the publisher on behalf of all 300 Tecmo staff.

This week’s reports follow Team Ninja head and Ninja Gaiden director Tomonobu Itagaki’s announcement earlier this month that he would be stepping down from his post on July 1 and was suing Tecmo for “unpaid completion bonuses”.

The full statement from Tecmo, below, acknowledges as fact some of the recent rumors reported, but plays down the scope of the unrest within the company. It also denies allegations that the firm withheld information from its shareholders and says that Tecmo is in the process of resolving disputes over unpaid overtime.

“On and around June 15, 2008, various websites in the US reported a rumor about “dozens” of development staff members resigning and filing a lawsuit against Tecmo, LTD., following Tomonobu Itagaki’s departure from the company. The rumors are false and no such action is taking place at the company.

“On June 16, 2008, two employees filed a lawsuit against Tecmo, LTD. with accusations of withholding overtime pay. Although a lawsuit was filed by the two employees, on April 1, 2008, Tecmo, LTD. did notify all affected employees that they would be appropriately compensated and is currently in the process of resolving the matter. There are several inaccurate reports stating that all 300 company employees are named in the lawsuit and the company would like to clarify that only two employees are involved in the suit.

“In addition, there were reports that Tecmo, LTD., a publicly traded company on the Tokyo Stock Exchange, withheld information from its shareholders regarding the lawsuit filed in May 2008 by Tomonobu Itagaki. The company has observed the provisions defined by the Exchange and has released information accordingly and in a timely manner.

“It is unfortunate that false and inaccurate reporting of our organization and employees’ actions have caused some unrest among our development staff members. Tecmo, LTD. would like to assure its partners and loyal fans that its teams continue to focus and work on several projects to be released and announced in the future. The company is committed to providing high quality, entertaining products for our fans around the world.

“Your continued support of Tecmo, LTD. is appreciated and it is kindly asked that you handle news reports concerning the above matters with care.”