Take Two Investors Seek To Oust Board, Execs

Law360, New York (March 8, 2007, 12:00 AM EST) -- Take Two Interactive Software Inc. was issued another blow on Wednesday when a group of investors revealed they are planning to boot the software publisher’s board and incumbent top executives after an improper stock options backdating scheme prompted the company to restate a decade’s worth of financial results.

The consortium of investors, which includes several hedge funds and mutual funds, disclosed their intentions in a filing with the U.S. Securities and Exchange Commission.

The filing stated that they are seeking to appoint Strauss Zelnick, the former...
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