Game Politics ([info]gamepolitics) wrote,
@ 2006-09-22 05:45:00
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Entry tags:nasdaq, sec, stock options, take-two

Take-Two Faces De-listing from NASDAQ

More corporate problems for Take-Two Interactive?

According to financial site TheStreet.com, the publisher of GTA and Bully has been notified by NASDAQ that it is not in compliance with filing requirements.

This was not unexpected, according to the game publisher, due to an ongoing internal review of employee stock options. The investigation delayed filing of third quarter paperwork. Take-Two says it plans to request a hearing with NASDAQ to review the situation and will file the paperwork at issue as soon as practical.

Take-Two is among several high-profile firms, including Apple, Dell and Novell to have received such notices from NASDAQ.


(8 comments) - (Post a new comment)

But will be singled out.
[info]nightwng2000
2006-09-22 12:12 pm UTC (link)
"Take-Two is among several high-profile firms, including Apple, Dell and Novell to have received such notices from NASDAQ."

Of course, certain individuals, organizations, and government officials will start the charge of misleading others individuals, organizations, and government officials by claiming it was because of controversial games and Take-Two will of course, be treated as if it were unique in this action. "Oh, look what I(we) got accomplished! This is because of us! We predicted this! We caused their troubles and we'll do more! Ha Ha!" Of course, the truth is that this type of action isn't unique and is due to internal issues and not personal/religious/political actions by others.

From the article about the other companies:
"Both companies are appealing the delisting, which means they won't vanish from the stock exchange anytime soon."

So, since Take-Two is going to appeal, it won't disappear overnight either.

An interesting follow up to this story would be to see what other companies over the years have received such notices and how successful or unsuccessful their appeals were.

nightwng2000
NW2K Software

(Reply to this) (Thread)
Re: But will be singled out.
[info]the_attorney
2006-09-22 04:25 pm UTC (link)
This type of notification happens all the time. Any time you are late filing your quarterly (whether its due to internal investigations, redoing numbers, merger, etc.) you get notified, send in your notification to challange, and file your revised quarterly before it ever gets heard. This is much ado about nothing.

The_Attorney

(Reply to this) (Parent)

[info]boffo97
2006-09-22 01:08 pm UTC (link)
How much you want to bet that this is the news that means that the Evil One thought would mean Take-Two would not exist and its executives would be in prison a year from now?

If so... exactly what we all expected it to be... sound and fury signifying nothing.

(Reply to this)


[info]jabrwock
2006-09-22 03:24 pm UTC (link)
Did they change or clarify the rules for employee stock options in the last few years? Because a lot of companies are performing internal reviews of employee stock options to make sure they comply with US federal rules...

(Reply to this)

Nothing to see here....
[info]gfox25
2006-09-22 04:00 pm UTC (link)
Not much will happen to Take Two as too many companies are or will be delaying their 10q. I don't believe Nasdaq will de-list all those companies.

(Reply to this)


[info]thefremen
2006-09-22 05:09 pm UTC (link)
Man, if they take off apple and dell I know that there's a hell of a lot of brokers who will cry for days.

(Reply to this)


[info]kurisu7885
2006-09-22 05:54 pm UTC (link)
May as well not bother taking bets that a certain someone is firing up his press release generator and getting ready to take full credit for this turn of events. It'd be a fool's bet. In any case, I hope Take Two can pull through. They may have had problems as of late but so does every company.

(Reply to this) (Thread)

[info]ianc14
2006-09-22 07:22 pm UTC (link)
Ill recommended keeping an eye on Joystiq for the next day or two. Any story, it wont matter he'll post his excrement in them.

(Reply to this) (Parent)

(8 comments) - (Post a new comment)

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