SEC investigates Take-Two
There is no peace for Take-Two Interactive. Seeing as the now-infamous publisher of some of the most reputable (Civilization) and disreputable (Grand Theft Auto) does not haveenoughtroubleon its hands, it will now be investigated by the US Securities and Exchange Commission.
The SEC notified the company that it was launching an informal probe into how the publisher has granted stock options from 1997 until present. Take-Two has confirmed its intentions to cooperate with the non-public investigation.
The Associated Press reports that Take-Two is one of many companies being investigated by the SEC for having "backdated stock option grants to time them at share price lows, thus boosting gains on the sale of the stock."
[via GamesIndustry.biz]
