On May 18, 2009, 3D Realms key executives released the first full "press release" with their side of the developments. "3D Realms has not closed and is not closing. [...] Due to lack of funding, however, we are saddened to confirm that we let the "Duke Nukem Forever" development team go on May 6 [...] While Realms is a much smaller studio now, we will continue to operate as a company and continue to license and co-create games based upon the "Duke Nukem" franchise. [...] Take-Two's proposal was unacceptable to Realms for many reasons, including no upfront money, no guarantee minimum payment, and no guarantee to complete ["Duke Nukem Forever"]. [...] We viewed Take-Two as trying to acquire the "Duke Nukem" franchise in a "fire sale." [...] We believe Take-Two's lawsuit is without merit and merely a bully tactic to obtain ownership of the "Duke Nukem" franchise. We will vigorously defend ourselves against this publisher."