Take-Two Sued Over EA Shenanigans
Electronic Arts' [http://www.take2games.com] acquisition offer.
A Form 8-K Current Report, filed with the ZelnickMedia Corporation [] allegedly designed to entrench the Company's management, adopting the stockholders' rights plan allegedly to thwart EA's tender offer, and issuing a proxy statement and response to EA's offer that allegedly contained misleading and incomplete information."
Maulano's suit seeks "declaratory relief, preliminary and permanent injunctive relief, damages and reasonable attorney's fees and litigation expenses," the filing said. In response, the Take-Two Board of Directors said it believes the claims lack merit, and will defend itself vigorously against them.
The complaint did not seek to "enjoin or delay" the company's annual stockholders meeting, being held today (April 17) in New York City and available to the general public via live webcast (audio only). The meeting is expected to address and offer details about the current state of EA's attempted hostile takeover of Take-Two. Gamers interested in following the action live can do so via the Take-Two Investor Relations website [http://ir.take2games.com/].
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Electronic Arts' [http://www.take2games.com] acquisition offer.
A Form 8-K Current Report, filed with the ZelnickMedia Corporation [] allegedly designed to entrench the Company's management, adopting the stockholders' rights plan allegedly to thwart EA's tender offer, and issuing a proxy statement and response to EA's offer that allegedly contained misleading and incomplete information."
Maulano's suit seeks "declaratory relief, preliminary and permanent injunctive relief, damages and reasonable attorney's fees and litigation expenses," the filing said. In response, the Take-Two Board of Directors said it believes the claims lack merit, and will defend itself vigorously against them.
The complaint did not seek to "enjoin or delay" the company's annual stockholders meeting, being held today (April 17) in New York City and available to the general public via live webcast (audio only). The meeting is expected to address and offer details about the current state of EA's attempted hostile takeover of Take-Two. Gamers interested in following the action live can do so via the Take-Two Investor Relations website [http://ir.take2games.com/].
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