Former Take-Two Executives Plead Guilty
Two former officials from Take-Two Interactive [http://www.take2games.com/] have pleaded guilty to charges of falsifying stock option records.
Patti Tay, former chief accounting officer at Take-Two, pleaded guilty to making false entries on a stock option grant spreadsheet in 2001 and 2002, while the company's former top lawyer, Kenneth I. Selterman, pleaded guilty to providing false information in a letter to regulators regarding the options.
The charges followed an investigation into irregularities with the company's stock option grants earlier in the year. As a result of that investigation, former Take-Two chairman and CEO Ryan Brant resigned [http://www.escapistmagazine.com/news/view/68730]over the same controversy.
Take-Two Interactive, best known for its controversial Rockstar [http://www.rockstargames.com]releases, has suffered from consistently poor financial performance over the preceding year, which in conjunction with its legal difficulties resulted in the installation of a new management team earlier in the year.
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Two former officials from Take-Two Interactive [http://www.take2games.com/] have pleaded guilty to charges of falsifying stock option records.
Patti Tay, former chief accounting officer at Take-Two, pleaded guilty to making false entries on a stock option grant spreadsheet in 2001 and 2002, while the company's former top lawyer, Kenneth I. Selterman, pleaded guilty to providing false information in a letter to regulators regarding the options.
The charges followed an investigation into irregularities with the company's stock option grants earlier in the year. As a result of that investigation, former Take-Two chairman and CEO Ryan Brant resigned [http://www.escapistmagazine.com/news/view/68730]over the same controversy.
Take-Two Interactive, best known for its controversial Rockstar [http://www.rockstargames.com]releases, has suffered from consistently poor financial performance over the preceding year, which in conjunction with its legal difficulties resulted in the installation of a new management team earlier in the year.
Permalink