Former Take-Two board member Robert Alexander is suing the publisher for $50 million, claiming breach of contract related to a deal between his distribution company, Game Ballers, and Take-Two.
According to court documents discovered by website GamePolitics
, Alexander forged an oral contract in 2003 between Game Ballers and embattled Take-Two founder and former CEO Ryan Brant.
Specifically, Alexander says Take-Two's contract with Game Ballers entitles him to a $240,000 salary -- with 20 percent raises each year -- a monthly expense allowance of $25,000, 50,000 shares of Take-Two stock plus options, and fifty cents per game his company distributes.
The complaint alleges that Alexander's contract was breached when Paul Eibeler replaced Brant as CEO after Brant's forced resignation amid SEC scandals.
In the suit filed in Nevada federal court, Alexander claims to have founded Jack of All Games, the distribution business that Take-Two acquired in 1998, and to have been on Take-Two's board of directors until 1999. He reportedly formed Game Ballers in 2003, and soon after began negotiating distribution partnerships with Brant -- which weren't finalized before Eibeler took over.