Guilty! Former Take-Two Boss Cops a Plea on Stock Option Charges

February 14, 2007 -
Reuters is reporting that former Take-Two CEO Ryan Brant entered a guilty plea today on charges that he manipulated stock options.

Brant will pay $7.3 million to settle cases brought by the Securities and Exchange Commission (SEC) and Manhattan District Attorney's office. In a statement, Brant said:
I am deeply sorry for my role in the inappropriate manner Take-Two granted incentive stock options. I accept responsibility for my actions, and apologize to the company's shareholders.

Business Week has more, including word that Brant, who could have received a four-year prison sentence for his crimes, will likely receive probation when he is sentenced in August. 

Last month Take-Two announced the results of an internal investigation which revealed that Brant, who left the company in October, had manipulated options.

GamePolitics has learned that the Manhattan D.A. will be holding a press conference at noon today. More details should be forthcoming at that time.

Comments

Well, I haven't paid too much attention to any news on this front from Take-Two, but man, this is really not what they needed. They'd just seen a small improvement of their stock. /cry Take-Two.

Well at least he admitted to it an saved a bunch of people sometime.

Well, this has been coming for quite a while, Rock* is a multi-million dollar corp, unfortunately, when you get to that kind of value, you will always get one or two leeches, be they inside the company using paperwork or outside the company using other methods.

Mostly, it's the Shareholders who will suffer, not a good PR situation for R*, but then they seem to surf the opinion envelope anyway, so I don't see it hurting them in the long term to be honest, it's not as if they are the first ever company to have it's management caught dabbling.

I looked at the headline, and I imagined Phoenix Wright weeping, knowing he has failed his client.

@GoodRobot

Rockstar has got nothing to do with it. It is Take Two that got those problems. Rockstar just makes the games, Take Two is the publisher.

Sorry, too used to saying Rock*, my mistake. It's right there in the article too :-/

I meant Take 2 :)

In the distance, you can hear a nasally-sounding laughing made by a certain enemy of Take2 Interactive...

Least they are cleaning house.

Regrettable, but this isn't the kind of thing that will make me (or anyone else, I'd guess) stop buying their games.

Watch JT try to claim credit for this too.

Let's hope Take Star, I mean Take Two recovers, as they probably will.

Take-Two stock (TTWO) soared on the news today, that means all their troubles are behind them and does not affect current management or studios, just some former executive.

 
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Matthew Wilsonthe 3ds already swaps os's with the original ds. plus I dont think people expect miverse interaction when playing a gba game.07/29/2014 - 6:06pm
MaskedPixelanteBut that's not the issue, the 3DS is perfectly capable of emulating GBA games. The problem is that it doesn't have enough available system resources to run it alongside the 3DS OS, and thus it doesn't have access to stuff like Miiverse and save states.07/29/2014 - 5:45pm
Matthew WilsonI am well aware that it requires more power, but if a GBA emulator could run well on a original psp, than it should work on a 3ds.07/29/2014 - 5:36pm
ZenThe reason the SNES could run Gameboy, or the Gamecube could run GBA was because their adapters included all of the necessary hardware to do it in the respective add-ons. The systems were just conduits for control inputs and video/sound/power.07/29/2014 - 4:51pm
ZenMatthew: Emulation takes more power than people realize to run a game properly. You can make something run on less, but Nintendo...as slow as they are at releasing them..makes them run as close to 100% as possible. Each game has its own emulator for it.07/29/2014 - 4:47pm
Matthew Wilsonkind of hard to believe since the 3ds is atleast as powerful as the gamecube hardware wise.07/29/2014 - 4:27pm
MaskedPixelanteYes, the 3DS has enough power to run 16-bit emulators, but not at the same time it's running the 3DS systems themselves. You could run the games, but you wouldn't get save states or Miiverse.07/29/2014 - 4:04pm
InfophileRunning GBA on 3DS shouldn't be hard. The DS had flashcarts sold for it that added just enough power to emulate GBA and SNES games, so the 3DS should have more than enough natively.07/29/2014 - 3:37pm
MaskedPixelanteIt's a bunch of people whining about boycotting/pirating Trails in the Sky FC because XSEED didn't license the Japanese dub track, which consists of about 10 lines per character.07/29/2014 - 11:27am
Sleaker@MP - devolver Digital issued a twitter statement saying they would replace the NISA pledge.07/29/2014 - 10:57am
E. Zachary KnightIs that a discussion about RIAA member music labels?07/29/2014 - 10:48am
MaskedPixelantehttp://steamcommunity.com/app/251150/discussions/0/43099722329318860/ In this thread: Idiots who don't understand how licensing works.07/29/2014 - 9:20am
MaskedPixelantehttp://www.joystiq.com/2014/07/28/gaymerx-in-dire-straits-after-nis-america-allegedly-backs-out-of/ NISA backs out of GaymerX support, but it seems like the only people crying foul are GaymerX.07/29/2014 - 6:30am
Papa MidnightIt's not bad so far, but I am honestly not sure what to make of it (or where it's going for that matter)07/28/2014 - 9:44pm
Matthew Wilsonis it any good?07/28/2014 - 9:36pm
Papa Midnight"Love Child" on HBO -- anyone else watching this?07/28/2014 - 9:27pm
MaskedPixelanteNah, I'm fine purple monkey dishwasher.07/28/2014 - 4:05pm
Sleaker@MP - I hope you didn't suffer a loss of your mental faculties attempting that.07/28/2014 - 3:48pm
MaskedPixelanteOK, so my brief research looking at GameFAQs forums (protip, don't do that if you wish to keep your sanity intact.), the 3DS doesn't have the power to run anything more powerful than the NES/GBC/GG AND run the 3DS system in the background.07/28/2014 - 11:01am
ZenMatthew, the 3DS already has GBA games in the form of the ambassador tittles. And I an just as curious about them not releasing them on there like they did the NES ones. I do like them on the Wii U as well, but seems weird. And where are the N64 games?07/28/2014 - 10:40am
 

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