SEC may file charges against Take-Two
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Take-Two Interactive Software announced Wednesday that the Securities and Exchange Commission may file charges and seek monetary penalties against the game maker, in connection with the investigation into the company’s stock option granting practices. Take-Two, maker of the Grand Theft Auto video games, has been under investigation by the SEC over allegations that the company engaged in improper stock options pricing practices.
“The company continues to cooperate with the staff and continues to expect to resolve this investigation by means of a settlement rather than a contested litigation of charges, and believes that the “Wells” call represents a significant step forward towards that resolution,” Take-Two stated in its SEC filing.
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