Take-Two founder pleads guilty to options charges
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Ryan Brant, the former chief executive of video game publisher Take-Two Interactive Software, pleaded guilty on Wednesday to criminal charges related to backdating of stock options. Brant, who in 1993 founded the company best known for the blockbuster Grand Theft Auto urban-action game, pleaded guilty in New York State Supreme Court to falsifying business records.
“I am deeply sorry for my role in the inappropriate manner Take-Two granted incentive stock options,” Brant said in a statement. “I accept responsibility for my actions, and apologize to the company’s shareholders,” said Brant, who agreed to pay $6.3 million to settle the civil charges and $1 million in penalties related to the criminal case.
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