Gamasutra is part of the Informa Tech Division of Informa PLC

This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726.


Gamasutra: The Art & Business of Making Gamesspacer
View All     RSS
July 11, 2020
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 EA eventually rescinded the proposed deal after repeated rejections from Take-Two's management.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

Disbelief
Disbelief — Chicago, Illinois, United States
[07.10.20]

Senior Technical Artist
Klang Games GmbH
Klang Games GmbH — Berlin, Germany
[07.10.20]

Technical Producer
Klang Games GmbH
Klang Games GmbH — Berlin, Germany
[07.10.20]

Senior Level Artist
Klang Games GmbH
Klang Games GmbH — Berlin, Germany
[07.10.20]

Senior Game Designer









Loading Comments

loader image