Take-Two settles for $3M over old SEC investigation

Take-Two has agreed to settle for $3 million in a stock-option backdating scheme conducted by the company over a decade ago -- by folks that were punished and haven't been part of the company in years. Take-Two announced years ago that it would pursue the settlement route, accepting the corporate version of pleading "no contest," as the publisher did not admit nor deny the SEC allegations.

In fairness, Take-Two appears to be a very different company under the muscled shadow of Strauss Zelnick, compared to the darker days of Paul Eibeler. Think of this whole incident like the time your uncle got really drunk at Christmas and ... well, you know. Point is: the family has moved on and tries not to remember that.

[Via Gamespot]

This article was originally published on Joystiq.