Take-Two Gets SEC Inquiry AGAIN!
Take-Two Interactive is facing another inquiry by the Securities and Exchange Commission, this time over its stock-options grants. I swear Take-Two Interactive can’t get a break this year!
The video-game software maker disclosed on Monday that the SEC has launched an informal investigation into its grants dating back to 1997. The company did not say what prompted the SEC’s inquiry or what the regulator was investigating. A Take-Two representative declined to comment on whether the SEC’s inquiry related to allegations of the backdating of options. More than 50 other public companies are being investigated by the SEC and other regulators over charges that they handed out options to executives and employees at extraordinarily low exercise prices that were known after the fact.
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