The Securities and Exchange Commission has launched an "informal non-public investigation" into Take-Two.

The investigation is looking into certain stock option grants made by the company from Jan. 1997 to the present, according to Take-Two.

Take-Two says that prior to the investigation they had started an internal review of their option grants. The internal investigation is being conducted by independent board members who have retained legal counsel and accounts, according to the company.

This is the second on-going investigation and their dealings that could result in legal action. The New York Grand Jury is also conducting an investigation into Take-Two and their marketing of Grand Theft Auto: San Andreas.
These constant investigations and the rumors they spur can't be helping morale at the company and certainly isn't helping their stock. Brian Crecente

Can a company even as large as Take-Two survive? Maybe it's time for them to start looking into divesting some of their brands.

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