Shareholder Sues Take-Two - Kotaku Comments

Shareholder Sues Take-Two

reptile168 — Tue, 11 Mar 2008 21:05:25 MDT

EA's playing mind games now

reptile168

Shareholder Sues Take-Two

Taco Bell™ — Tue, 11 Mar 2008 20:28:34 MDT

You can be sued for not selling your company? Oh my...

Taco Bell™

Shareholder Sues Take-Two

SpishackCola — Tue, 11 Mar 2008 15:52:40 MDT

This is what you get for being greedy Mr. Zelnick

SpishackCola

Shareholder Sues Take-Two

testmunky — Tue, 11 Mar 2008 15:14:42 MDT

@Chainrxn: Ahh I misunderstood what you were saying. Although, I think the big issue here is timing, as the board voted on the acquisition compensation when there was already an offer on the table. Whether or not this suit has any legal standing I don't know.

testmunky

Shareholder Sues Take-Two

Chainrxn — Tue, 11 Mar 2008 14:38:18 MDT

@testmunky: Zelnick benefits when the company is sold, at least to my understanding, no matter what the price is. However, it only looks inappropriate if they decline an offer only to take the same offer (or less) after their compensation package was increased.

Chainrxn

Shareholder Sues Take-Two

Bobby McPresscott — Tue, 11 Mar 2008 14:38:00 MDT

Yes, Take Two is doomed to being destroyed by EA, just as any other company that dares to be successful will be so long as EA exists. But the same basic concept is not unfamiliar... EA will eat and eat until there is nothing left to breed. Third party innovation will die and those companies that rely on it will starve.

Eventually people will stop buying the shitty games, and all whose money is tied to their success will die a pathetic death. Only those who are self sufficient and have a history of bowing to no one will survive.

And the only company that really matches that description already lived through one mass extinction, and single handedly rebuilt the world in which it exists. They will do it again if EA continues their destruction. No one wants to see the reset button pressed and all our progress lost, but everyone knows exactly what boot screen will be welcoming us back.

Bobby McPresscott

Shareholder Sues Take-Two

baked ham — Tue, 11 Mar 2008 14:17:35 MDT

Sounds like Take 2 execs are partaking of some shady business practices.

baked ham

Shareholder Sues Take-Two

testmunky — Tue, 11 Mar 2008 14:16:35 MDT

@Chainrxn: Where are you getting that they would have to sell at the same price or lower for Zelnick to benefit?

testmunky

Shareholder Sues Take-Two

Fyren — Tue, 11 Mar 2008 14:02:13 MDT

There is another hidden force behind this.

I wouldn't be surprised if EA paid off some bribery to fan the fire.

It won't be long before EA comes to the rescue, very strategically planned. You heard it here first.

Fyren

Shareholder Sues Take-Two

ScottG13 — Tue, 11 Mar 2008 13:38:47 MDT

This industry needs fewer people like Zelnick. The faster we can get rid of him, the better.

ScottG13

Shareholder Sues Take-Two

dannah — Tue, 11 Mar 2008 13:07:16 MDT

@Quilt:
I agree, I think it will get a LOT dirtier before it's finished.

Does anyone have any speculation on this guy's chances of winning?

dannah

Shareholder Sues Take-Two

StartRunning — Tue, 11 Mar 2008 13:04:44 MDT

I don't understand all this corporate mumbo-jumbo.
Aren't the shareholders HAPPY their company is making great games on their own without E 'No-Innovation' A breathing down their neck?
Oww, I get it, this is a money thing. Silly me.

StartRunning

Shareholder Sues Take-Two

LeBaron — Tue, 11 Mar 2008 13:03:31 MDT

take two had it coming. they should never have made that ping pong game for wii. big misstake. ea dont like competition.

LeBaron

Shareholder Sues Take-Two

huginn — Tue, 11 Mar 2008 12:44:01 MDT

@Mr.SithNinja: Then why is TT White knighing the hell out of it's business. Artificially raising it's stock prices, improving it's worker's bailout packages, ect.

They are actively fighting it with every manner they can. They don't want to be bought out.

And fricken Shareholders want them because it means they see a nice payout on there stocks. For once, it isn't about they money, it is about the games, and Everyone is failing to realize it

huginn

Shareholder Sues Take-Two

Quilt — Tue, 11 Mar 2008 12:42:27 MDT

I think there's still room for this to get dirtier.

Quilt

Shareholder Sues Take-Two

joelface — Tue, 11 Mar 2008 12:27:04 MDT

so what you are saying is that NOW is the perfect time to throw all my life savings into take-two stock.

joelface

Shareholder Sues Take-Two

blackadvent — Tue, 11 Mar 2008 12:26:43 MDT

Cue Tack Jhompson in 5...

blackadvent

Shareholder Sues Take-Two

Chainrxn — Tue, 11 Mar 2008 12:21:49 MDT

@FadedEchos: This suit has no grounds whatsoever unless Take Two decides to sell at the same price or at a lower price in the future. Until then, Zelnick and co. are not benefiting whatsoever from their sale bonuses.

All this does is ensure that EA must make a greater bid for the company. And, if they do, Zelnick did what was in the best interests of the company be declining the first offer.

Chainrxn

Shareholder Sues Take-Two

Mattjay — Tue, 11 Mar 2008 12:13:52 MDT

Business Judgment Rule FTW! This lawsuit will only result in payment to the attorneys handling it (lucky bastards).

Mattjay

Shareholder Sues Take-Two

Dopeski — Tue, 11 Mar 2008 12:13:43 MDT

Bleh, this worries me. What does all this mean for the GTA franchise? Will it be safe if something bad happens?!

Dopeski

Shareholder Sues Take-Two

Mr.SithNinja — Tue, 11 Mar 2008 12:10:03 MDT

Sounds like they planned to sell to EA all along. They just wanted to say no publicaly and try to drive up the price. But if EA or execs of EA are the ones buying out the stock, they won't have to shell out as much for the actual takeover. Interesting indeed.....

Mr.SithNinja

Shareholder Sues Take-Two

KaliKOtt — Tue, 11 Mar 2008 12:09:09 MDT

I hope if the buyout ever occurs that the 2k sports team leaves the company and forms their own studio

NBA 2k should live on. DAMN

KaliKOtt

Shareholder Sues Take-Two

HellGuard99 — Tue, 11 Mar 2008 12:06:30 MDT

LEAVE TAKE-TWO ALONE.
*sniff sniff*

HellGuard99

Shareholder Sues Take-Two

ErskinPig — Tue, 11 Mar 2008 11:49:26 MDT

@BambooCactus: Absolutely, they're all as bad as each other.

This is the problem with trading games companies on the stock market! They should stay independent & privately owned. I really hope we see more services like Steam (digital distribution) so that publishers can be rendered irrelevant and INDEPDENDENT companies can focus on making the games they want to make and not be beholden to any corporate agenda decided by money grabbing shareholders and their executive puppets.

ErskinPig

Shareholder Sues Take-Two

Likwit — Tue, 11 Mar 2008 11:47:19 MDT

@dsmx: Yeah. Remember when sports games were good and not the exact same game only a little bit less fun each year? The same is gonna happen with GTA. 8 subpar sequels in the next 4 years.

Likwit

Shareholder Sues Take-Two

thedap — Tue, 11 Mar 2008 11:46:12 MDT

it's "whom"

thedap

Shareholder Sues Take-Two

thedap — Tue, 11 Mar 2008 11:45:38 MDT

'Whom'

thedap

Shareholder Sues Take-Two

mva5580 — Tue, 11 Mar 2008 11:44:26 MDT

@ban_hammer: I would argue that EA cares way less about GTA IV in comparison to how much they want to rid the world of the 2K Sports series. Imagine the long term sales impact of EA Sports being the only choice for sports games. They'll make that acquisition $$ back in 5 years. Tops.

mva5580

Shareholder Sues Take-Two

BambooCactus — Tue, 11 Mar 2008 11:41:55 MDT

It all boils down to greed, doesn't it? Little mister Solomon doesn't get what he wants so he up and sues them. What a sordid state our culture is in.

BambooCactus

Shareholder Sues Take-Two

ban_hammer — Tue, 11 Mar 2008 11:37:35 MDT

If GTA 4 gets out the door before any monkey business besides JT happens, I would be happy. (JT always, no point in stopping it, he's kinda like team rocket in pokemon, we entertain his foolishness because we love to have an enemy we can poke and prod without getting bitten)

ban_hammer

Shareholder Sues Take-Two

HurricaneDave — Tue, 11 Mar 2008 11:36:58 MDT

EA is the one behind this. I'm surprised Crecente didn't post the quote by the EA executive at the end of the article.

======
"If Strauss Zelnick keeps telling people he's a Boy Scout, someone should ask him what merit badge he expects to get for this," said Jeff Brown, a spokesman for Redwood City, Calif.-based EA.
========

I mean does EA have no shame.

HurricaneDave

Shareholder Sues Take-Two

FadedEchos — Tue, 11 Mar 2008 11:36:22 MDT

All you guys saying this is EA doing something wrong, Look at that jump from 3.8 to 16.5 Million in bonuses in case the company gets sold right after they reject EA.

Whether or not EA is pushing this suit or the stock dumping, that little executive cash grab is an underhanded move that will hurt the company and the shareholders if it is bought. It's completely right that a shareholder should sue for something like this, and I hope ZelnickMedia gets punished for it.

FadedEchos

Shareholder Sues Take-Two

Bizdady — Tue, 11 Mar 2008 11:32:40 MDT

I hate you EA, sad to say this and EA was always my favorite back in my Sega days lol.

Bizdady

Shareholder Sues Take-Two

hammerton — Tue, 11 Mar 2008 11:29:17 MDT

I don't know if EA had planned this or seen it coming. Otherwise, that one disgusting move on EA's half. And for god damn sakes, can GTAIV come out before they go under...jeez.

hammerton

Shareholder Sues Take-Two

Ehardergardens — Tue, 11 Mar 2008 11:27:58 MDT

I wish my interests, and the consumer's weren't clearly in opposition to the shareholders.
I don't think EA is an 'evil' company any more than others, and they do have plenty of good games, but just as a winner in the console war serves me no good as a gamer/consumer, a dominant software publisher isn't going to be fighting for new innovation when they don't have to.
Not even planning to get GTA4 or any sports games but this is sad.

Ehardergardens

Shareholder Sues Take-Two

okenny :) — Tue, 11 Mar 2008 11:27:22 MDT

It seems that if there's even a hint that a lawsuit might happen... it will. I don't know enough about what's going on to intelligently comment about the validity but I personally think GTA will do amazing things for the Take Two and it seems like a really good bet to wait and see rather then bending to EA's offer.

okenny :)

Shareholder Sues Take-Two

TinyLightning — Tue, 11 Mar 2008 11:26:51 MDT

i guess this is kind of like a girl holding out so she makes you think she's even more worth the effort. and by that i mean, WRONG!!! Sue those prudes at Take 2 until they learn to put out.

TinyLightning

Shareholder Sues Take-Two

Sheogorath — Tue, 11 Mar 2008 11:26:23 MDT

WE ARE EA. YOU WILL BE ASSIMILATED. RESISTANCE IS FUTILE.

Sheogorath

Shareholder Sues Take-Two

ixalth — Tue, 11 Mar 2008 11:22:44 MDT

Argh. I really hate/don't have any sympathy over some people arguing over people making more money than I'll ever see.

ixalth

Shareholder Sues Take-Two

KaneRobot — Tue, 11 Mar 2008 11:21:54 MDT

Sigh. Guess it's just a matter of time now.

KaneRobot

Shareholder Sues Take-Two

FP Bleentastic has cake — Tue, 11 Mar 2008 11:21:29 MDT

gonad's and strife

oh and it seems like this is a killer move for EA. make a offer it gets rejected, price of TT shares rise to that price. Stock dump and lawsuit changes price possibly lower then it was to offer and you re-make a offer lower but not too lower then the initial offer and get TT cheaper

FP Bleentastic has cake