Shareholders to sue Take-Two over hot coffee
Take-Two's been steadily taking punches from every corner since the "Hot Coffee" scandal began. The latest group to criticize the company are the company's shareholders. And not just that shareholder.
Two law firms have filed suit on behalf of shareholders that claim to have lost money because of the controversy surrounding the game. Never mind that controversy is usually a brilliant way to increase sales.
Ignoring possible motivations behind this latest threat (we'll give you a hint: $$$), Take-Two's strongest asset–Grand Theft Auto–is quite clearly also its biggest weakness. In the last six months, because of
GTA, the company has:
- Been sued by a city
- Suffered a massive drop in stock prices
- Been criticized by prostitute support groups
- Had its CEO voted as the worst of 2005
From the perspective of possible investors, Take-Two really is an ugly beast.
[Image credit: The Battle Cat's profile]