| Company: | Take-Two Interactive Software, Inc. |
| Ticker Symbol: | NASD: TTWO |
| Class Period: | October 25, 2004 to January 27, 2006 |
| Date Filed: | Feb-02-06 |
| Lead Plaintiff Deadline: | April-03-06 |
| Court: | Southern District, NY |
| Allegations: |
A lawsuit has been filed in the United States District Court for the Southern District of New York, on behalf of persons who purchased or otherwise acquired publicly traded securities of Take-Two Interactive Software, inc. ("Take-Two" or the "Company") (NASDAQ:TTWO) between October 25, 2004 and January 27, 2006, inclusive, (the "Class Period"). The lawsuit was filed against Take-Two and certain officers and directors ("Defendants").
The complaint alleges that Defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. Specifically, the complaint alleges that Defendants made many representations about the success of the Company's primary product - Grand Theft Auto: San Andreas and the positive contribution it was making to the Company's revenues. However, it is alleged that Defendants failed to disclose that the Company improperly hid embedded pornographic materials directly in the programming of the game. The Complaint also alleges that Defendants failed to disclose this in order to obtain a rating of Mature 17+, versus a rating of Adults Only 18+, thereby enabling it to market the game to a wider audience.
On January 27, 2006, the City Attorney for the City of Los Angeles filed an action against the Company and its subsidiary, Rockstar, in the Superior Court of the State of California, alleging that the Company and Rockstar violated sections of the California Business and Professions Code by publishing untrue and misleading statements and engaging in unfair competition. In reaction to the announcement, share of Take-Two dropped from $17.03 to $14.69, or 13.7% on heavy volume.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
By submitting this form, you are asking lawyers to contact you. You are under no obligation to accept their services and you are free to choose which lawyer you want to work with. Lawyers are usually paid out of the proceeds of the settlement or verdict rendered.
At LawyersandSettlements.com, it is our goal to keep you informed about important legal cases and settlements. We are dedicated to helping you resolve your legal complaints.
The complaint alleges that Defendants violated Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder. Specifically, the complaint alleges that Defendants made many representations about the success of the Company's primary product - Grand Theft Auto: San Andreas and the positive contribution it was making to the Company's revenues. However, it is alleged that Defendants failed to disclose that the Company improperly hid embedded pornographic materials directly in the programming of the game. The Complaint also alleges that Defendants failed to disclose this in order to obtain a rating of Mature 17+, versus a rating of Adults Only 18+, thereby enabling it to market the game to a wider audience.
On January 27, 2006, the City Attorney for the City of Los Angeles filed an action against the Company and its subsidiary, Rockstar, in the Superior Court of the State of California, alleging that the Company and Rockstar violated sections of the California Business and Professions Code by publishing untrue and misleading statements and engaging in unfair competition. In reaction to the announcement, share of Take-Two dropped from $17.03 to $14.69, or 13.7% on heavy volume.
If you acquired the securities of the defendants during the Class Period you may, no later than the Lead Plaintiff Deadline shown above, request that the Court appoint you as lead plaintiff through counsel of your choice. You may also choose to remain an absent class member. A lead plaintiff must meet certain requirements.
Register your Securities Complaint
If you have suffered from financial losses, you may qualify for damages or remedies that may be awarded in a possible class action lawsuit. Please fill in our form on the right to submit your complaint and we will have this lawyer review your securities complaint.By submitting this form, you are asking lawyers to contact you. You are under no obligation to accept their services and you are free to choose which lawyer you want to work with. Lawyers are usually paid out of the proceeds of the settlement or verdict rendered.
At LawyersandSettlements.com, it is our goal to keep you informed about important legal cases and settlements. We are dedicated to helping you resolve your legal complaints.
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