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
September 20, 2019
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 EA eventually rescinded the proposed deal after repeated rejections from Take-Two's management.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

HB Studios
HB Studios — Lunenburg/Halifax, Nova Scotia, Canada
[09.20.19]

Experienced Software Engineer
Sucker Punch Productions
Sucker Punch Productions — Bellevue, Washington, United States
[09.19.19]

UI Artist
Sucker Punch Productions
Sucker Punch Productions — Bellevue, Washington, United States
[09.19.19]

Senior Lighting Artist
Cold Iron Studios
Cold Iron Studios — San Jose, California, United States
[09.19.19]

Sr. Character Artist









Loading Comments

loader image