SEC May Charge Take-Two


Posted August 16, 2007 - By Stephen Johnson

It's a crappy time to be Take-Two interactive.

First, the company's shareholders revolted against their executives. Then the game-maker took a blow from the ESRB, who slapped the dreaded "Adults Only" rating on Manhunt 2. Then the company had to delay the release of Grand Theft Auto 4. But the worst news may be yet to come for the beleagured company.

The Security and Exchange Commission has issued them a "Wells Notice" to let them know there may be an investigation of their past stock activities.

The Wells notice gives Take-Two a chance to respond to the SEC and convince the agency not to file charges.

In the response filing, Take-Two said it expects "to resolve this investigation by means of a settlement rather than a contested litigation of charges ... the 'Wells' call represents a significant step forward towards that resolution."

Reuters: Take Two gets Wells notice from SEC staff

SEC May Charge Take-Two


Blog Tags

  • International Sexy Ladies Show: Messy Cat Fight

    Posted: January 27, 2010

    644,696 Views | 00:49

  • Sara Underwood's Naked Bike Ride

    Posted: June 22, 2011

    1,316,284 Views | 05:20

  • Laser Snake Robots, More Mars Rovers and BigDog Is Back

    Posted: September 25, 2012

    1,290 Views | 03:00

  • NBA 2K13 Launch Trailer

    Posted: October 4, 2012

    5,601 Views | 01:53

  • Casual Vomiting - Web Soup Investigates

    Posted: March 30, 2011

    7,570 Views | 02:52