New York - Video game publisher Take-Two Interactive has announced that the company received notice from the Securities and Exchange Commission (SEC) that it may file charges in relation to Take-Two's stock option granting practices.

Take-Two received a "Wells" call from the SEC's enforcement division last week, which told the company it will ask the Commission to file charges against Take-Two, and seek a civil monetary penalty.

The company's former chairman and CEO, Ryan A. Brant, was the first chief executive to be convicted of "backdating" stock options, or changing the date on which they were granted in order to increase their value for employees.

Two other executives at the company have also pleaded guilty to falsifying company records in connection with the stock option grants.

Related Links:
http://biz.yahoo.com/e/070815/ttwo8-k.html

http://biz.yahoo.com/ap/070815/take_two_sec.html (AP)

http://www.take2games.com