Gamasutra: The Art & Business of Making Gamesspacer
View All     RSS
March 29, 2017
arrowPress Releases






If you enjoy reading this site, you might also want to check out these UBM Tech sites:


Take-Two Agrees To Settle Shareholder Suit Over EA Bid
Take-Two Agrees To Settle Shareholder Suit Over EA Bid
April 6, 2009 | By Leigh Alexander

April 6, 2009 | By Leigh Alexander
Comments
    1 comments
More: Console/PC



Grand Theft Auto publisher Take-Two has entered an agreement to settle a class-action lawsuit brought against it by a shareholder regarding Electronic Arts' 2008 takeover bid.

According to a MarketWatch report, the shareholder who filed the March 2008 complaint in Delaware is one Patrick Solomon, who objected to the company's unwillingness to consider EA's longstanding $26 per share offer. EA eventually rescinded the proposed deal after repeated rejections from Take-Two's management.

The settlement reportedly doesn't provide monetary damages to Solomon and the unnumbered class, as Take-Two claims its insurance will cover any legal fees the plaintiff's attorney tries to collect.

Just recently, Take-Two settled another outstanding lawsuit, reaching two separate agreements with the SEC and the New York County District Attorney on allegations of stock option backdating and false income reports -- allegations the company neither admits nor denies.


Related Jobs

Mindshow, Inc.
Mindshow, Inc. — Los Angeles, California, United States
[03.28.17]

Unity Engineer / VR Inverse Kinematics
Mindshow, Inc.
Mindshow, Inc. — Los Angeles, California, United States
[03.28.17]

Unity Engineer / VR Platform
Telltale Games
Telltale Games — San Rafael, California, United States
[03.28.17]

Video Ambassador
Mindshow, Inc.
Mindshow, Inc. — Los Angeles, California, United States
[03.28.17]

Lead Engineer (Unity / Virtual Reality)









Loading Comments

loader image