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SEC Launches Take-Two Investigation

Posted by ryuzaki0 on from the hey-don't-belittle-paste dept.

crecente writes "Take-Two, already the subject of a Grand Jury inquiry, is now being 'informally investigated' by the Securities and Exchange Commission. This latest investigation looks at stock option grants made by the company from Jan. 1997 to the present. Just how many investigations can a publically traded company handle before their stock turns to worthless paste?"

1 of 73 comments (clear)

  1. Re:Does anyone have more info? by Anonymous Coward · · Score: 3, Interesting

    This sort of thing happens all the time. Basically vulnerable companies are targeted by hedge funds who short the shares in the company. Then they work with their cronys among the media and regulators in order to create bad news (SEC investigations being one of them) in order to drive the stock price down.

    This is the battle that Overstock is going through right now. And Krispy Kreme and Vonage and Delta Airlines.

    You can read more about this at http://www.thesanitycheck.com/, http://www.faulkingtruth.com/ and http://www.investigatethesec.com/.

    By the way, and "informal" investigation technically is where the SEC ask for documents and provides them. They turn "formal" when the SEC issues subpoenas in order to get the information.