Take-Two Ex-CEO In Hot Water


Take-Two Interactive (NASDAQ: TTWO) , the mega-publisher behind Grand Theft Auto, is having a few “stock-related mishaps” again. Though an inquiry into the current executive team at Take-Two has shown that none of the current executives are guilty of doctoring stocks, it appears that ex-Chairman and CEO, Ryan Brant, isn’t so innocent. According to USA Today, Brant, who retired as Chairman last October, handed out stock options like they were going out of style, and perhaps they had, since he backdated them without informing anyone else about it.

All of that’s pretty bad as it is, but to make things worse, several of the previous Take-Two executives refuse to be interviewed about the problem and are believed to be heavily involved. To compound Take-Two’s trouble, Nasdaq has again warned the firm that they risk de-listing due to not filing form 10-k by October 31st. This joins other warnings from Nasdaq about Take-Two not holding it’s yearly shareholder meetings and not filing quarterly earning reports.

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