Line Games has withdrawn the rights offering it had been pursuing. The company said the move followed a comprehensive review of internal and external market conditions, and drew a line under any link to a lawsuit between Line Yahoo (LY) and Lungo Entertainment.

A related filing on Sept. 15 showed Line Games issued a corrected disclosure after withdrawing its decision to conduct a rights offering that day. The shareholder-allotted rights offering it had been pursuing was halted as a result.

A Line Games official said the board resolved to withdraw the rights offering after a close review that took into account internal and external market conditions.

The company denied any connection to a lawsuit between LY and Lungo that some have raised. It said the purpose of the rights offering, including one previously carried out, was consistently to raise operating funds, and that it was unrelated to the LY-Lungo lawsuit.

Line Games said it would continue to focus on operating existing titles and preparing new releases after withdrawing the rights offering. It aims to lift performance of key mobile titles including "Genesis War Mobile" and "Uncharted Waters Origin", while continuing preparation of new PC and console titles.

A company official said that despite difficult conditions, it was encouraging that expectations for new titles were rising, with the company moving to expand platforms for the new PC and console title "Ember and Blade" and "Quiet" completing its first play test amid strong interest.

The official added that the company would do its best to maximize results from its key mobile titles while ensuring there are no disruptions in preparing new releases.