EA's Bid to Buy T2 Figures in Wall Street Insider Trading Charges

December 18, 2008 -

According to the Dow-Jones Newswire, federal investigators charged four men with today insider stock trading. One of the transactions named in the indictments was EA's bid to acquire T2 earlier this year.

No one from either Take-Two Interactive or Electronic Arts has been charged and there is no indication that the publishers had any inkling of the illegal stock trades. If government regulators are correct, however, information leaks from the Brunswick Group, a P.R. firm working on behalf of Take-Two, contributed to the crime. From the Dow-Jones report:

Four people were charged criminally Thursday in an insider trading scheme involving information about mergers or stock buybacks obtained from a Lehman Brothers Holdings Inc. broker's wife who worked at communications firm Brunswick Group LLC...

 

According to court documents, they were among a group of clients and friends tipped by Matthew C. Devlin, a Lehman Brothers broker, about 12 planned deals before their public announcements between 2005 and 2008...

 

Devlin allegedly obtained the information from his wife, who worked at communications firm Brunswick Group, according to court filings. The deals included... Electronic Arts Inc.'s (ERTS) hostile bid earlier this year for Take-Two Interactive Software Inc. (TTWO)...

 

Devlin has been charged criminally and in the SEC case... [other defendants]... referred to Devlin or his wife as the "golden goose," according to court documents.

The Guardian reports that there is no suggestion that Devlin's wife, Nina, a partner at Brunswick, knew of her husband's alleged stock market manipulations.

Comments

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

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Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

I like your amended version just as well, EZK  ;)

Sortableturnip's Law: As an online discussion of video game violence grows longer, the probability of a comparison involving Jack Thompson approaches 1

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

FULL OF WIN.

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"Game on, brothers and sisters." -Leet Gamer Jargon

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"A Chrono Trigger is anything that unleashes its will or desire to change history!" -Gaspar

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

Uh-oh, Shadow. You posted a humorous picture to relate to the matter at hand. Devirous might come and insult people.

What EVER shall we do???

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

Pretend he does not exist? :)

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

Excellent option. Have a cookie.

------------------------------------------------------------------------------

"Game on, brothers and sisters." -Leet Gamer Jargon

-----------------------------



"A Chrono Trigger is anything that unleashes its will or desire to change history!" -Gaspar

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

mmmm cookie! nom nom nom nom nom

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

Keep dreaming, sparky

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

By the way, the frozen turkey in the recent Mythbusters "Best of" show is the head of former T2 Chairman Paul Eibler.  Somebody finally found a use for Paul Eibler.

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

Next time you have a thought, just let it go.

ANd hey, I hear Buster needs a stand-in, sign up, now.

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

 When shall they find a use for you?

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

Wow, more SEC problems related to Take-Two.  What a freaking surprise.

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

How much money will EA lose because of this?

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

Probably none.

While it was EA's stock information that was being leaked, neither EA nor T2 had anything to do with the insider trading.  This is purely a case of a middle man taking advantage of some knowledge that they were not supposed to.

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

Not a lot really. TTWO's market  cap is only about 700 million while EA sits on a hefty 5 billion.

If you think about it, the Bioware and Pandemic buyout was actually more than the market value of TTWO, sitting at 860 million, so TTWO is actually a steal for anyone looking to buy it.

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

so TTWO is actually a steal for anyone looking to buy it.

Assuming that they're willing to be bought. If they aren't, then the price fast approaches unreasonable as EA found out.

-Gray17

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

Well you can just buy up all the stocks if you wanted to (51%) for only about 350 million and do a corperate takeover, but EA does't want that to happen since (by experience) they probebly know that it will make everyone there unhappy and leave.

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

You can't take the current stock price and multiply by the number of shares needed. Trying to buy up that much will trigger a price increase.

 

 
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quiknkoldI didnt say all games are like that, Conster. Princess Peach was....different. though I had fun with it.10/30/2014 - 7:00am
james_fudgehttp://www.somethingawful.com/news/gamergate-with-cats/10/30/2014 - 5:20am
MechaTama31AE: Japan's doujin scene illustrates an interesting potential solution to that problem. Let people play around with the characters, and keep an eye on things to see what people are buying.10/30/2014 - 12:07am
ConsterI bought, played and liked the game (unlike Smash Basketball *shakes fist*), but that felt iffy to me.10/29/2014 - 10:52pm
Consterquiknkold: if Super Princess Peach had been Super Prince Peach instead, do you think emotions would've been a mechanic?10/29/2014 - 10:51pm
quiknkoldcore meaning Colossus, Storm, Wolverine, and Nightcrawler10/29/2014 - 8:51pm
quiknkoldMatthew, those core x-men were together for almost 2 decades, until one would always be dead so they couldnt have them all together.10/29/2014 - 8:51pm
quiknkoldmore of an unknown. background characters mostly, who had a book but it was mostly a waste. they bring in this powderkeg of diversity and boom. now they could do the same thing and with the right artist and writer and mystique to it...10/29/2014 - 8:50pm
Matthew Wilsondoes it though? they always seem to return to the original cast in a year or two.10/29/2014 - 8:49pm
quiknkoldWhen I think of the perfect catalyst of a melting pot hero team, I think of the All New All Different X-Men. A Russian, A African goddess, A Canadian Berzerker, a German elf, and Cyclops. and all have withstood the test of time mostly cause the x-men were10/29/2014 - 8:49pm
Andrew EisenOne reason is because the money people are often afraid it won't sell. "A new IP AND the protagonist is gay?! That'll never work!" Showing that diverse characters can work in popular IP is simply a place to start. The indie scene is another.10/29/2014 - 8:47pm
Matthew Wilsonisnt that the point? why not just make new heroes that are different races, sexual orientations, and genders to start with?10/29/2014 - 8:46pm
Andrew EisenYep, progress is a lot slower than it should be (especially for something that shouldn't have been a problem in the first place).10/29/2014 - 8:45pm
quiknkoldrelevent. Hazmat and X-23. while Reptile, Mettle, Rockslide, Anole, Hellion, Dust, Mercury are all relegated to background characters with zero character enhancement. or they are dead10/29/2014 - 8:45pm
quiknkoldThat has a chance of happening. But its a cosmic scale gamble. They cant all end up like Captain Marvel, once a sidekick and now queen badass. but with Marvel? Look at New X-Men and Avengers Academy. a plethora of new characters, and only 2 are still10/29/2014 - 8:44pm
Andrew EisenIt is a gimmick, albeit one with some good intentions. Plus, it can potentially lead the way to the things you want to see such as new characters.10/29/2014 - 8:41pm
quiknkoldcomes in as a gimmick.10/29/2014 - 8:38pm
quiknkoldI really dont care that Thor is a woman now because they way theyve written it is that Thor will regain his hammer, and the female thor will either fade away or get a new name and eventually writers are going to forget about her like everybody else that10/29/2014 - 8:38pm
quiknkoldother things are a target. Comics are another big one. Genderswapping and race swapping and sexual pref swap characters is happening alot. I'd rather just have all new characters that are female and whatever.10/29/2014 - 8:37pm
Matthew Wilsonwhy target games though? those same points can and have been made about every other medium too. games dont seem to be any worse than movies or tv shows trope wise.10/29/2014 - 8:33pm
 

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