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Take-Two To Pay $3M To Settle Backdating Charges

Law360 (April 1, 2009, 12:00 AM EDT) -- Take-Two Interactive Software Inc. has settled two separate stock options backdating investigations by the U.S. Securities and Exchange Commission and the New York County District Attorney's Office, agreeing to more than $3 million in fines, a permanent injunction and corporate reforms.

The settlements, announced Wednesday, result from long-running probes into executive compensation practices at the company, which makes the popular Grand Theft Auto video game series.

Under the terms of the SEC deal, filed along with the agency's complaint in the U.S. District Court for the...
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