The former chief lawyer and chief accounting officer of Take-Two Interactive pleaded guilty yesterday to falsifying business records in connection with the company's improper backdating of employee stock options. This comes just a few months after the former CEO pleaded guilty for the same crime. The "Oh, I must have hit the wrong button." defense would have never worked, so pleading guilty was the best option.
Take-Two has brought in new management and is attempting to recover from five quarters of losses. Better buy GTA 4 twice if we want to see more.