Kotaku
NASDAQ is threatening to delist Take-Two interactive from their stock market for failing to file a quarterly report, as required by their rules, according to an SEC filing.
The company says that filing of their report was delayed by the internal investigation they are conducting into their own stock option grants.
Take-Two plans to request a hearing with the Listing Qualification Panel to review the ruling, until then the company will remain listed.
Wow, I'm no business school grad, but this sure doesn't sound good for Take-Two. I know they say they were expecting this ruling to come, but you can't help wait for the other shoe to drop. Often, this sort of thing is the first step down a long and ugly trail that ends in bankruptcy and people snatching up your IPs from the bowels of a warehouse during a bankruptcy auction.
