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Game Publisher Take-Two Facing SEC Probe Into Stock Option Grants

Authored by Mark Hefflinger on July 10, 2006 - 1:30pm.
New York - Video game publisher Take-Two Interactive on Monday became the latest firm to come under investigation by the SEC over its granting of employee stock options. Many other companies, including Apple and CNET Networks, have either launched internal investigations or become the subjects of SEC probes into matters including whether they "back-dated" stock options, or changed the dates upon which the grants went effective to increase their values for employees. Take-Two said the SEC sent notice that it has launched an investigation into its stock options grants dating back to January 1997, adding that it had already initiated an internal review of its options grants, which is being conducted by independent counsel and accountants. New York-based Take-Two was also the target of several lawsuits and an FTC probe over the inclusion of hidden sexually explicit material in its "Grand Theft Auto: San Andreas" game.

http://biz.yahoo.com/bw/060710/20060710005368.html?.v=1
http://money.cnn.com/2006/06/29/technology/apple_options
http://www.take2games.com

tags: Games | Investing | Take-Two | Investigations | SEC | Stock Options |



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