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Take-Two Exec Sentenced In Backdating Scheme

Law360 (August 9, 2007, 12:00 AM EDT) -- A former general counsel for Take-Two Interactive Software was sentenced to three years of probation on Wednesday for submitting false information to securities regulators. As part of his plea agreement, Kenneth Selterman will also pay a $50,000 fine and complete 200 hours of community service.

Selterman is the third top official from the video game company to be sentenced in connection with a investigation by the Manhattan District Attorney's office into allegations of backdating stock options. On June 6, Selterman pled guilty to lying to regulators...
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