SEC to Probe Take-Two Stock Option Grants
According to a statement, the “informal non-public” investigation will cover grants made between January 1997 to the present.
Take-Two noted that before the SEC gave notice of the investigation, the publisher had begun an internal review of option grants which was being conducted by independent board members.
The company intends to fully cooperate with the SEC.
Take-Two has been experiencing a string of legal issues, ranging from a final Federal Trade Commission ruling on Hot Coffee to Grand Jury Subpoenas from the District Attorney of the County of New York to a former actor from The Warriors movie suing over the use of his likeness in Rockstar's videogame.