Take-Two To Pay $20M In ‘Hot Coffee’ Suit

Law360, New York (September 4, 2009, 1:35 PM EDT) -- Take-Two Interactive Software Inc., creator of the “Grand Theft Auto” video game series, will pay $20.1 million to settle a consolidated securities class action arising from hidden pornographic scenes in one of the games and allegations that its executives engaged in stock option backdating.

The settlement, announced Sept. 1, puts a lid on a long-standing consolidated class action that was filed in the U.S. District Court for the Southern District of New York almost four years ago.

"We are pleased to have reached this settlement, which...
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