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Take Two Interactive Under SEC Investigation
MrPinstripeCom writes "Take Two interactive is now officially under investigation by the SEC. They've agreed to allow regulators to subpoena and investigate their practices with current and former employees as it relates to stock options purchases and disbursements. 'The company was the subject of an informal, non-public, investigation into allegations of back-dating stock option grants last year, while a separate internal investigation by Take-Two also found evidence of improprieties. The scandal ultimately led to the departure of then chairman and CEO Ryan Brant, who was singled out by the SEC investigation and was forced to pay $7.3 million in "disgorgement, interest and penalties" at the New York State Supreme Court.'"
It's a sad day, when you "agree to allow regulators to subpoena" you.
THAT'S NOT HOW SUBPOENAS WORK!
You either comply with the subpoena, or guys with guns come and make you comply. There's nothing voluntary about them, that's why they literally mean "under penalty."