It seems Factor 5's financial problems has led to even more trouble after the developer shut down last month. Former Factor 5 employees are now suing the Lair developer for fraudulent behavior in order to get out of paying their debts, Gamasutra reports.

Factor 5, the San Rafael, CA-based US developer has now officially shut down for business after succumbing to financial trouble. The announcement was made on their official website, adorned with images of the games they have completed, mostly for the Star Wars franchise, and was also responsible for the PS3 title Lair.

Talks of a Kid Icarus sequel never really flew off, specially with the rumors of Factor 5 shutting down. Still, if you were wondering what could have been, check out leaked early concept art of Kid Icarus after the link.

Despite getting a heaping dose of Kyptonite from publisher Brash Entertainment, developer Factor 5's "large scale multi-platform project" still refuses to die. Is it *gasp* indestructible?

We're all curious as to how the rumored Kid Icarus game for the Wii will look like, but more importantly, how Pit will look like. It's lucky that we managed to come images were found in the web, labeled as Factor 5's concept art for the game. This much we'll tell you: the Pit they're working on - if the project is true, of course - is nothing like the Pit we all know and love. Check out the concept art in the full article.

Except for his appearance on the Wii's Virtual Console, Pit of Kid Icarus spent a very long vacation time away from the video game spotlight until his sudden and welcome appearance on Super Smash Bros. Brawl. But will he be a solo act again any time soon? According to a recent IGN podcast, the answer is "absolutely." More info in the full article.

Can't wait to get your next retro-gaming fix? If you're based in Europe or Australia, you won't have to wait very long since Factor 5's Mega Turrican should be arriving in your region soon via the Wii Virtual Console. To find out more about this game and its pricing, check out the full article.

Eight months after being spotted on the ESRB ratings page, Super Turrican has finally made its way to the North American Virtual Console service. Check out game details as well as pricing information in the full article.

Last month, Factor 5 (the studio that gave us Lair for the PS3) announced that they'll be releasing a new title for the Wii. Factor 5 president Julian Eggebrecht refused to reveal anything more than that, but at DICE 2008 he finally decided to reveal some new information. Like what Star Wars Rogue Squadron II: Rogue Leader did for the GameCube, this mystery game will reportedly push the Wii to its limits. Read more in the full article.

There are video game awards, and then there are video game awards. This particular video game awards feature is probably of the latter, but with a lot of good-natured irreverence thrown into the mix. While it would have been easier for us to just make an article about our favorite games (and we did), we felt that the gaming year of 2007 had a lot to offer, and thus we're giving credit (and blame) where it's due.

Check out the winners in the full article.

Originally posted on January 21, 2008 at 1:14 PM.