Take Two Interactive Software Inc

Take-Two Interactive Software Inc. said it might be sued by the Securities and Exchange Commission over the backdating of stock options. The New York-based maker of the "Grand Theft Auto" games said it received a so-called Wells notice Aug. 9 indicating that the agency staff would seek authority to file a complaint and seek monetary damages.

Video game publisher Take-Two Interactive Software Inc. has decided it's better to compromise with Carl Icahn than to fight. Just a month after the activist investor accumulated an 11.3% stake in the struggling company best known for the Grand Theft Auto video game series, Take-Two has agreed to give Icahn nearly half the seats on its board of directors. Take-Two Executive Chairman Strauss Zelnick struck the deal to avoid a potentially contentious fight at an upcoming annual meeting, according to people familiar with the situation who requested anonymity because negotiations were private.

Take Two Interactive Software Inc. said it had received subpoenas from the New York district attorney requesting documents related to earnings results and hidden sex scenes in "Grand Theft Auto: San Andreas." The grand jury subpoenas also request documents related to acquisitions, partnering arrangements and the firing of PricewaterhouseCoopers, New York-based Take Two said.

After dismissing Electronic Arts Inc.'s takeover attempts, Take-Two Interactive Software Inc., publisher of the Grand Theft Auto game series, said it had decided to remain an independent company. The decision concludes a "strategic review" the New York-based game publisher initiated after the unsolicited $2-billion offer from EA. After being repeatedly rebuffed, EA walked last month. Since Take-Two stepped away from the table, its stock has fallen nearly a third from its highs earlier this year.

Dissident shareholders won their bid for control of video game maker Take-Two Interactive Software Inc. and ousted its chief executive, the New York-based company said Thursday. New directors installed include Strauss Zelnick, a former chief executive of BMG Entertainment, who was named chairman. Take-Two CEO Paul Eibeler was relieved of his position. Take-Two makes the bestselling "Grand Theft Auto" video game series.

Take-Two Interactive Software Inc. said it reached a final settlement with the Federal Trade Commission over hidden sex scenes in the "Grand Theft Auto: San Andreas" video game. Take-Two agreed not to misrepresent video-game ratings or descriptions and will implement a system to review titles submitted to ratings authorities. The settlement didn't assess fines or penalties, New York-based Take-Two said.

Video game publisher Take-Two Interactive Software Inc. said it would delay filing its annual report as it restates past results to reflect changes in revenue recognition policies, in light of concerns raised by securities regulators. New York-based Take-Two, which has been under investigation by the Securities and Exchange Commission for about two years, said the restatement would affect fiscal 2002 and 2003 results and its financial outlook for fiscal 2004.

Take-Two Interactive Software Inc. delayed filing its annual financial report, citing newly discovered accounting problems. The company found "material weaknesses" in accounting for some accounts payable valuations and software development costs, it said in a filing with the Securities and Exchange Commission. Preliminary operating results for the fiscal year ending Oct. 31 aren't expected to change, New York-based Take Two said. Shares of Take-Two rose 23 cents to $18.42.

Take-Two Interactive Software Inc. said its loss widened after stores pulled the "Grand Theft Auto" title because of hidden sexual scenes. The loss was wider than analysts' estimates, and the shares fell. The fiscal third-quarter loss widened to $28.8 million, or 41 cents a share, from $14.4 million, or 21 cents, a year earlier, Take-Two said. Sales rose 5.6% to $169.9 million. Shares of Take-Two fell $1.55, or 6.4%, to $22.61 in extended trading after the results were announced.

Take-Two Interactive Software Inc., maker of the "Grand Theft Auto" video games, reported a wider loss because of costs to close development studios. The loss exceeded analysts' estimates, and the company's shares plunged. The second-quarter net loss ballooned to $50.4 million, or 71 cents a share, from $8.19 million, or 12 cents, a year earlier, New York-based Take-Two said. Sales rose 19% to $265.1 million from $222.1 million a year earlier. Shares of Take-Two fell $2.38, or 14%, to $14.

Take-Two Interactive Software Inc., the video game publisher in acquisition talks with Electronic Arts Inc., reported a third-quarter profit that exceeded analysts' projections on sales of Grand Theft Auto IV. Net income of $51.8 million, or 67 cents a share, contrasted with a loss of $58.5 million, or 81 cents, a year earlier, New York-based Take-Two said. Sales in the quarter that ended July 31 more than doubled to $433.8 million from $206.4 million a year earlier and exceeded the $382.

Take-Two Interactive Software Inc., the target of an unsolicited $2-billion buyout offer, on Tuesday posted higher losses for its first quarter, but raised its full-year financial outlook because of strong demand for its upcoming "Grand Theft Auto IV" video game. The New York-based game company lost $38 million, or 52 cents a share, on $240.4 million in sales in the quarter ended Jan. 31. It lost $21.5 million, or 30 cents, on revenue of $277.3 million a year earlier. Analysts polled by Thomson Financial had predicted revenue of $211.

With the world's biggest video game publishers devouring their rivals, is it game over for mid-size companies? Analysts said Monday that Take-Two Interactive Software Inc., the New York company behind the "Grand Theft Auto" franchise, seemed to have little choice but to join industry giant Electronic Arts Inc. EA pressed Take-Two shareholders to accept its unsolicited takeover bid of $2 billion.

Take-Two Interactive Software Inc. said it might be sued by the Securities and Exchange Commission over the backdating of stock options. The New York-based maker of the "Grand Theft Auto" games said it received a so-called Wells notice Aug. 9 indicating that the agency staff would seek authority to file a complaint and seek monetary damages.

Less than two weeks after commandeering Take-Two Interactive Software Inc. in a boardroom coup, the video game publisher's new management team Tuesday presented investors with a 100-day turnaround strategy. Control of Take-Two, maker of the popular "Grand Theft Auto" series, now rests in the hands of Chairman Strauss Zelnick and interim Chief Executive Benjamin Feder, both former media industry executives.

Dissident shareholders won their bid for control of video game maker Take-Two Interactive Software Inc. and ousted its chief executive, the New York-based company said Thursday. New directors installed include Strauss Zelnick, a former chief executive of BMG Entertainment, who was named chairman. Take-Two CEO Paul Eibeler was relieved of his position. Take-Two makes the bestselling "Grand Theft Auto" video game series.

After dismissing Electronic Arts Inc.'s takeover attempts, Take-Two Interactive Software Inc., publisher of the Grand Theft Auto game series, said it had decided to remain an independent company. The decision concludes a "strategic review" the New York-based game publisher initiated after the unsolicited $2-billion offer from EA. After being repeatedly rebuffed, EA walked last month. Since Take-Two stepped away from the table, its stock has fallen nearly a third from its highs earlier this year.

Take-Two Interactive Software Inc., the maker of the No. 1 selling video game "Grand Theft Auto: San Andreas," was sued by a woman who claimed that the company defrauded her and other purchasers of the game by failing to tell them that it included sexually explicit content.

Take-Two Interactive Software Inc. said Monday that it was weighing a potential sale of the company and other options, as an investor group seeks control of the video game publisher best known for "Grand Theft Auto." Shares of Take-Two surged 8%, hitting their highest close since late 2005 and giving the company a market value of more than $1.6 billion. Take-Two, the third-largest U.S.

Investors who own 46% of Take-Two Interactive Software Inc. unveiled plans Wednesday to take over its board and oust the chief executive, sending shares of the "Grand Theft Auto" video game maker up by as much as 19%. Take-Two management has been under fire for years for a number of issues, including overstating revenue and problems with stock option grants.