Take-Two's Further Financial Woes

Next Generation reports that already beleaguered publisher Take-Two is now facing a lawsuit from a stockholder. The person bringing the suit claims the company has engaged in misleading tactics, insider trading, and inaccurate reporting. GameDailyBiz is also reporting that Elevated Partners are considering a buyout. These latest revelations may put the kibosh on that plan, though. From that article: "So will Elevation go for it anyway? Stranger things have happened, and the GTA franchise would certainly be a very valuable property. Furthermore, as the Post points out, Elevation doesn't seem to be afraid of investing in troubled companies. Just recently, the firm spent $100 million for part of Homestore.com even though several former Homestore executives were indicted for multimillion dollar fraud."