Chris Kohler
Culture

SEC May File Charges Against Take-Two

The US Securities and Exchange Commission has sent a Wells notice, "indicating that the agency may file charges against the company," to Take-Two Interactive Software, the company said Wednesday. In an SEC filing, Take-Two said the SEC staff informed the company that it plans to seek authority from the Commission to file charges and pursue […]

T2The US Securities and Exchange Commission has sent a Wells notice, "indicating that the agency may file charges against the company," to Take-Two Interactive Software, the company said Wednesday.

In an SEC filing, Take-Two said the SEC staff informed the company that it plans to seek authority from the Commission to file charges and pursue a civil monetary penalty. The Wells notice gives Take-Two a final chance to respond to the SEC and convince the agency not to file charges.

The charges would be related to Take-Two's stock options practices. The company's former CEO recently received five years of probation for falsifying stock options records.

Take Two Gets Wells Notice From SEC Staff [Reuters]