SEC takes on Take-Two...again
Publisher to fully cooperate with investigation relating to stock option grants made over the last decade.
Not all of Take-Two's legal woes of late have been fueled by the Grand Theft Auto: San Andreas Hot Coffee scandal. Today, the company announced that it had received notice that it was the subject of an "informal non-public investigation" by the Securities and Exchange Commission (SEC) in regards to stock option grants the company has made dating back to the beginning of 1997.
This is not the first time the SEC has looked into Take-Two's business dealings. A 2001 SEC investigation into the publisher's accounting practices stretched into June of 2005, when Take-Two settled the dispute for $7.5 million.
In a terse statement, Take-Two announced that it had "initiated an internal review of the Company's option grants, led by a committee consisting of independent board members who have retained independent legal counsel and accountants to assist in the review."
Take-Two also said it would "fully cooperate in the [SEC's] informal investigation." However, said compliance did little to assuage nervous traders. As of press time, the publisher's share price was trading at $9.67, a 52-week low for the once-hot stock. In July 2005, Take-Two stock was valued at $28.16.
42 Comments
-
jojoforpres
-
Enigma2K99
-
rodrigo_br
-
Fallout_red
-
TheGrandMiG
-
rynmls
-
cjthemaster
-
cutter892
-
Bio_Spark
-
WolfSkill5544
-
PazUSA
-
GS_darkplayer
-
niceaznguy721
-
BigV25
-
CMakaCreative
-
Devilwillcry
-
gcuber123
-
messin18
-
thatguytony
-
SNKrock
-
gcuber123
-
drack48
-
PazUSA
-
gamer_10001
-
comthitnuong
-
Paul_TheGreat
-
wingchunstudent
-
xfactor19990
-
Karjah
-
K1LLSWITCH
-
roadrunner1178
-
jkovach82
-
MovieMan200x
-
metdevthegamer
-
Seymour47
-
A7Xfan
-
Pablo620
-
Donkeljohn
-
UntoldDreams
-
Rumstocker
-
Narroo
-
demollyon
Subscribe to GameSpot's YouTube Channel
Hot Stories
Newsmakers
-
Mortal Kombat developer to diversify in 2012
NetherRealm creative director Ed Boon says there's an "assumption" another Mortal Kombat game to come, but wants to work on new IPs on multiple formats, genres. Full Story
- Posted Jan 30, 2012 8:17 am PT
- 59 Comments
Featured Stories
-
Star Wars: The Old Republic denounced for gay relationships
Family Research Council says BioWare has "gone to the dark side" with promise to include same-gender romance in MMO game. Full Story
- Posted Jan 30, 2012 10:46 am PT
- 511 Comments
-
No new Xbox in 2012 - Microsoft
Company's French marketing manager says Microsoft not ready to roll out new console this year, won't compete with Nintendo and the Wii U. Full Story
- Posted Jan 30, 2012 9:51 am PT
- 359 Comments
-
Kingdoms of Amalur: Reckoning online pass unlocks seven quests
New copies of 38 Studios' fantasy RPG come bundled with code to download House of Valor faction questline; studio says it was "always intended" to be DLC. Full Story
- Posted Jan 27, 2012 2:53 pm PT
- 345 Comments
-
Sony sweetens PS Vita 3G deal
$300 version of new handheld will now include free 8GB memory stick, PSN game, AT&T 3G data plan access; $350 First Edition preorders to receive just the PSN game and data plan. Full Story
- Posted Jan 27, 2012 2:24 pm PT
- 244 Comments
-
Nintendo considering new name for Wii U - Report
Underwhelming reaction and concerns of customer confusion supposedly have the Mario maker weighing its options for a rebranding before this year's E3. Full Story
- Posted Jan 27, 2012 11:12 am PT
- 512 Comments




