Take-Two Wants Dismissal Of Plaintiffs' Take Two

Law360, New York (September 25, 2007, 12:00 AM EDT) -- A committee appointed by videogame developer Take-Two Interactive Software Inc. to review legal action against company directors has asked a court to toss derivative claims from a purported shareholder suit.

The special litigation committee argued in a brief filed with the U.S. District Court for the Southern District of New York on Monday that an amended complaint alleging claims of options backdating filed by a Take-Two institutional investor on behalf of shareholders contained derivative claims merely styled as direct claims.

Such claims should either be thrown...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.