Take Two Interactive Under SEC Investigation

MrPinstripeCom writes "Take Two interactive is now officially under investigation by the SEC. They've agreed to allow regulators to subpoena and investigate their practices with current and former employees as it relates to stock options purchases and disbursements. 'The company was the subject of an informal, non-public, investigation into allegations of back-dating stock option grants last year, while a separate internal investigation by Take-Two also found evidence of improprieties. The scandal ultimately led to the departure of then chairman and CEO Ryan Brant, who was singled out by the SEC investigation and was forced to pay $7.3 million in "disgorgement, interest and penalties" at the New York State Supreme Court.'"

Release and survive?

[Presence2]

I hope this doesn't prevent the release of GTA4. Selfishly perhaps, but let the company flounder, let Rockstar's bright fire burn itself out if they can't get things under control, let NYC and Thompson litigate them them till implosion, but let us have their legacy complete and released! It will make them immortal regardless.

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[Skevin]

> I hope this doesn't prevent the release of GTA4

Not likely, but they will change the meaning of the acronym: Grand Theft Armchair. The game's new "wanted level" will now include the truly heinous crimes in our current society...

1 star: Making backups of your own software
2 stars: downloading music off the internet
3 stars: living next door to someone downloading music off the internet
4 stars: living next door to someone accused of downloading music off the internet
5 stars: playing poker online for real m

"agreed to allow subpoenas"? WTF?

[coaxial]

It's a sad day, when you "agree to allow regulators to subpoena" you.

THAT'S NOT HOW SUBPOENAS WORK!

You either comply with the subpoena, or guys with guns come and make you comply. There's nothing voluntary about them, that's why they literally mean "under penalty."

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[um... Lucas]

per the article: The SEC has announced that the company is now formally under investigation. This allows them (the SEC) to issue subpeonas, since it's now an investigation rather than an inquiry.

It's not the system that's broken this time, it's the wording chosen by the submitter...

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[coaxial]

It's not the system that's broken this time, it's the wording chosen by the submitter...

Exactly. The submitter is an idiot.

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[attilaedin]

I love the idea behind it and as someone who uses a lot of the stuff in Komplete, being able to easily categorize sounds would be a huge benefit. VOB to Zune http://www.vob-converter.com/ [vob-converter.com]

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[Pokerstars com]

Lol yup, breaking down doors and all.

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[MeanderingMind]

Hate to break it to you, but Jesus is on a three day vacation starting today. He isn't saying anything.