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No legal action is recommended against publisher THQ, following an investigation by the United States Securities and Exchange Commission into some of their stock option practices. The investigation began back in August 2006, when the SEC requested all documents and materials pertaining to the practices, dating back to 1996. THQ was already in the process of conducting a voluntary internal review, and says that their independent investigation, which concluded January 2007, showed no evidence of fraud or misconduct. THQ was just one of 60 companies being investigated, including Activision and Take-Two. More »
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The Securities and Exchange Commission is thinking of filing charges against Take-Two Interactive in connection to the company's stock option practices. The former CEO and chairman of Take-Two pled guilty in February to "first-degree falsification of business records" for backdating stock options in an illegal manner and was ordered to pay a restitution of $7.2 million; in July, two more senior executives pled guilty in connection with the same stock options shenanigans. Take-Two received a "Wells" call from the SEC's enforcement division, notifying them the division will be asking the Commission to file charges. Whoops. More »
]]> http://kotaku.com/index.php?op=postcommentfeed&postId=290968&view=rss&microfeed=true Former Take-Two CEO Ryan Brant pleaded guilty today to criminal charges stemming from the backdating of company stock options, Reuters reports. More »
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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. More »
]]> http://kotaku.com/index.php?op=postcommentfeed&postId=202399&view=rss&microfeed=true Jack Thompson, ever the delusionist, has given up on harassing journalists and politicians and is zoning in on investors for his latest anti-Take-Two spiel. More »
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One of the things we never expected to see from Infinium Labs is shady business practices. More »
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Thank god there's at least one smart gamer who knows how to write out there. More »
]]> http://kotaku.com/index.php?op=postcommentfeed&postId=114540&view=rss&microfeed=true A federal investigation into Rockstar Games and Take-Two Interactive may already be underway. Although no official announcement has come, by law the Federal Trade Commission is not allowed to comment on an ongoing investigation, according to a spokeswoman for the FTC that I spoke to this morning. More »
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