Grand Theft Auto Publisher Coughs Up $3.3M to Settle Old Cases

April 2, 2009 -

Aside from the often controversial nature of its best-selling Grand Theft Auto series, Take-Two Interactive has spruced up its corporate image significantly since Strauss Zelnick and his crew seized control in 2007.

Despite that, some legal baggage lingered from the reigns of past CEOs Ryan Brant and Paul Eibeler.

The New York Times reports that T2 has settled those cases with the Securities and Exchange Commission and the Manhattan District Attorney's Office, respectively.

The GTA publisher paid $3M to the SEC in an an investigation of backdated stock options. In 2007 Brant pleaded guilty to criminal charges in the case. SEC attorney Christopher Conte commented on the charges in a statement:

Take-Two’s seven-year backdating scheme was egregious and pervasive, and caused the company to materially misrepresent its financial condition to investors.

The company also paid the $300,000 cost of the Manhattan  D.A.'s investigation into related matters. A Take-Two press release contains a statement from Zelnick:

We are pleased to have reached a settlement with both the SEC and District Attorney with respect to the Company's historical stock option granting practices. Resolving this issue has been a key objective for Take-Two since the current management team took office in early 2007, and we are gratified to have put this matter behind us.

 


 
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MechaCrashThey aren't being held accountable because *this is what GamerGate is really about.* Hatred and harassment under a thin veneer of concern for ethics; it's a rotten movement right down to the core. Related: http://tinyurl.com/o5mamgn10/21/2014 - 1:53am
james_fudgeodd why would they delete pro vita comments?10/21/2014 - 12:50am
Neo_DrKefkaI am a little disturbed that members of #GamerGate are supporting and not holding its same members accountable when they say remarks that are unacceptable!10/20/2014 - 11:39pm
Neo_DrKefkaSome #GamerGate people are defending @kingofpol many are however lashing out at him but if we held Sam Biddle accountable and Gawker so must we hold @kingofpol and #GamerGate10/20/2014 - 11:30pm
Neo_DrKefkaA big name in the Gamergate movement Kingofpol uses a offensive term about autistic people and in turn the entire GamerGate community lashes out at him. We do not need false leaders who think they can say anything https://twitter.com/Kingofpol10/20/2014 - 11:07pm
Papa MidnightMP, honestly, I'm struggling to make heads or tales of the events being outlined in that reddit thread. I've never heard of Siliconera before, either.10/20/2014 - 10:48pm
MaskedPixelantehttp://www.reddit.com/r/vita/comments/2jbn6u/former_siliconera_moderator_leaks_screenshots_of/ Siliconera mods accused of deleting user comments that were pro Vita.10/20/2014 - 9:23pm
quiknkoldhttp://www.diamondbackonline.com/opinion/article_3fbc52ec-57eb-11e4-ba91-0017a43b2370.html10/20/2014 - 9:16pm
Neo_DrKefkaId love to see people come 2gether whether your 4 or against gamergate to gather 2gether and support an anti bullying charity and I would love to see a pro and anti gamegate debate on a neutral platform that promotes discussion and solutions10/20/2014 - 8:33pm
Neo_DrKefkaWhen someone was seriously hurt by a violent altercation. They have a prospective that people who have not had this experience lack. Bullying is a serious issue10/20/2014 - 8:30pm
Papa MidnightStraw Man to the fullest, but it gets the point across.10/20/2014 - 8:26pm
Papa Midnighthttp://i.imgur.com/dw0YPon.png10/20/2014 - 8:25pm
quiknkoldby doing something, Charitable Donations is an example.10/20/2014 - 8:06pm
quiknkoldAndrew : I dont accept any worded apology unless I can look the person in the eye when they say it. For me, he'd either have to make a video so I could read his bodylanguage, or actually do something. actions speak louder than words.10/20/2014 - 8:04pm
quiknkoldwell if they are looking for social pollution, Twitter is a great breeding ground for it. Its a breeding ground for deviance.10/20/2014 - 8:03pm
Andrew Eisenquiknkold - He had three tweets worth of apology the following day.10/20/2014 - 8:00pm
quiknkoldyou know, people keep saying Biddle's comment was sarcasm, but the thing is, Sarcasm doesnt translate well in Tweets. I took his words as really hateful, and unless I see an honest apology, I'm not going to be happy with him.10/20/2014 - 7:38pm
Matthew WilsonI doubt it will change much.10/20/2014 - 7:21pm
MaskedPixelantehttp://www.bbc.com/news/technology-29689949 Google's current piracy fighting plan.10/20/2014 - 6:58pm
Andrew EisenYikes. http://boingboing.net/2014/10/20/vultures-circle-gamergate.html10/20/2014 - 6:25pm
 

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