SEC considering charges, civil monetary penalty against Take-Two

Posted Aug 16, 2007 at 12:32PM by Karl B. Listed in: News Tags: Reuters, SEC, Take-Two Interactive

Take-Two Interactive Software, Inc. has revealed that it has received a Wells notice from the U.S. Securities and Exchange Commission (SEC). This according to Reuters.

The Wells notice indicates that charges may be filed against Take-Two by the SEC concerning the stock options debacle that hounded the company in the past. According to Reuters, Take-Two revealed in an SEC filing that the company was informed by SEC staff who planned to get authorization from the Commission to file charges as well as go after a civil monetary penalty.

This is the latest blow against Take-Two. Earlier this month, the company announced that it will be delaying the release of Grand Theft Auto IV (PlayStation 3, Xbox 360). The release date for Manhunt 2 (Wii, PlayStation Portable, PlayStation 2) has also been changed. Take-Two still has one final chance to try and convince the SEC not to file charges.

Via Reuters

This story sucks? This story rocks!

Vote Now!

(0)

(0)

54 Jumps Watch: Hello World for PSP firmware 6.20?

31 Jumps Tretton on PSN charges, Sony's E3 offerings

25 Jumps Sony counting down to new God of War announcement?

19 Jumps PSP homebrew - JPCSP v0.5 revision 1416

19 Jumps Fat Princess: Fistful of Cake on PSN, UMD next month

19 Jumps Watch: Dead or Alive: Paradise "Kokoro trailer"

17 Jumps Final Fantasy Versus XIII has world map, airship

15 Jumps Australian Attorney-General Michael Atkinson steps down

15 Jumps PSPlayerMT For PSP - Direct AVI Player Works On All the PSP

13 Jumps Custom Firmware 5.50GEN-D3 final released

Best prices available for:

Overlord 2 for PlayStation 3

Price Range:
$21.00 - $48.00

at 7 Stores

Compare Prices

Dynasty Warriors 6 - Playstation 3 for PlayStation 3

Price Range:
$28.00 - $59.00

at 2 Stores

Compare Prices

Devil May Cry 4 for PlayStation 3

Price Range:
$20.00 - $20.00

at 1 Stores

Compare Prices

Customize your QJ Profile now! Its FREE.

Comments

# lol, first — Guest 2007-08-16 07:57

lol, first

# BULLSh** — Guest 2007-08-16 07:57

sony needs to get off their high horse sure they have greay systems but Sue T2 for Money bah.

BTW 1st

# 1st — ArchangelNem 2007-08-16 08:02

doesnt sounfd too good for the firm

# Djinn misunderstandin g — Guest 2007-08-16 08:12

Hey Djinn and anyone else, the SEC is the Securities and Exchange Commission, the 'federal police' of the American Stock Exchange.

Check 'em out:

http://en.wikipedia.org/wiki/United_States_Securities_and_Exchange_Commission

Take Two has been a bad boy. Time for a spankin'...

# You are the biggest idiot — Guest 2007-08-16 08:14

Sony Computer Entertainment(S CE) isn't suing them you little retard. U.S. Securities and Exchange Commission (SEC) is suing them. See how the E is switched with the C? Try reading the article next time.

# .. — Guest 2007-08-16 11:03

mayb take two can give them some of the 50mil M$ gave them

# ffuuk offf u mmother ffuukknn pieces of sshhiitt — Guest 2007-08-16 14:43

sec i hope u all die and go to hell and burn in the worst amajanable pain,how dare u guys kick take when they are down.you bbaassttrrddz are classless and deplorable.

# YO — Guest 2007-08-16 14:44

take+TAKE 2 INTERACTIVE

# IDIOT — Guest 2007-08-17 10:54

Djinn is a *****ing idiot who probably still enjoys sucking his mom's tit and his dads....

Refresh comments list

Add comment

JComments

The QJ.net Network
Site	Feed
QJ.NET	RSS
Nintendo DS	RSS
PlayStation 3	RSS
PSP Updates	RSS
Wii	RSS
Xbox 360	RSS
MMORPG	RSS
Personal Computer Games	RSS
iPhone - iPod Touch	RSS
QJ.NET Forums	RSS

Add QJ.NET

User Favorites - March

Most Commented
Codemasters: PSP is a bol..	(86)
Watch: Hello World for PSP..	(68)
Activision reveals new dir..	(58)
Venezuela: Importation of..	(54)
PlayStation 2: ten years o..	(53)
Sony counting down to new..	(52)
Sony files patent for "deg..	(52)
Final Fantasy Versus XIII..	(52)
February NPD: Xbox 360 is..	(44)
Report: Sony working on Pl..	(39)
What's the word on the str..	(37)
Monster Hunter Portable 3r..	(34)
This is what the "handheld..	(34)
Rumor: Lighter PS3 units o..	(34)
PSP homebrew - PSNKiller v..	(33)
Tretton on PSN charges, So..	(33)
Infinity Ward drama: Head..	(31)
PSP-3000 less US$ 20 at Ga..	(29)
Downloadable Neo Geo games..	(26)
Sony acquires Media Molecu..	(25)
PSP homebrew - EmuMaster v..	(25)
Rumor: All that's keeping..	(24)
On Shelves This Month: hol..	(24)
Watch: Dead or Alive: Para..	(23)
Dead or Alive: Paradise wi..	(23)

User Favorites - March

Top Jumps
Custom Firmware 5.50GEN-D3..	(148)
PSPlayerMT For PSP - Direc..	(143)
Watch: Hello World for PSP..	(131)
Report: Sony working on Pl..	(89)
Another PSP exploit found,..	(88)
PSP-3000 rocking new mothe..	(81)
Custom Firmware 5.50GEN-D3..	(79)
PlayStation 2: ten years o..	(79)
PSP Revolution v0.3	(75)
Sony counting down to new..	(63)
Go! Messenger now availabl..	(59)
Sony acquires Media Molecu..	(59)
PSP homebrew - PRXdecrypte..	(56)
Custom Firmware 5.03GEN-C..	(55)
Rumor: CFW 6.20 Mad-001 in..	(55)
Rumor: Lighter PS3 units o..	(54)
Final Fantasy Versus XIII..	(53)
gpSP v0.9 for the PSP	(52)
Kingdom Hearts: Birth by S..	(52)
Underrated no more: DS GTA..	(49)
Watch: A tricked out PSP w..	(48)
Evan Wells: Uncharted on P..	(48)
Rumor: All that's keeping..	(46)
Kojima: MGS Peace Walker t..	(46)
Tension at Infinity Ward o..	(44)