Take-Two Faces $20 Million Settlement For "Hot Coffee" Scandal

eldavojohn writes "Take-Two has settled with shareholders to the tune of $20 million dollars over the 'Hot Coffee' debacle. Ars brings the details on how a badly-handled situation resulted in shareholders suing Take-Two. '[The scandal] led to a media panic because it was assumed the sexual content was easy for children to get to (it wasn't) or that sex themes were becoming common in games (they aren't). Still, the lawsuit shows how badly the company bungled the situation, and it's easy to see how Take-Two's management directly caused shareholders to lose money. ... The suit alleged far more than a single misstep with Hot Coffee, however. "Take-Two's management was not cooperating or assisting with the Company's audit committee and was failing to keep the Board of Directors informed of important issues or failing to do so in a timely fashion," the complaint stated. Inventory was misstated, as was software development costs."

Comments

Re:America's Decline.

[mikael_j]

Well you see, in the US the basic rule seems to be Gordon Gekko's slogan "Greed is good", anything goes as long as you're being greedy. This explains why dishonest corporate executives and the like get off easy. As for why sex is considered so much more horrible than murder and torture, well I just don't know...

/Mikael

Only in the US

[miffo.swe]

Only in america there can be an uproar about sexual content when most games in existence is about killing people. Wtf is wrong with you people? Its ok to kill and mame people without any reason but its not ok when two consenting adults have sex?

Something is fundamentally and utterly broken in the US. The same people who shouts for unborn childrens rights to life cry in pain when someone wants to supply them with medicare once they are born.

Stupid fucks.