2 Ex-Officials of Take-Two Plead Guilty

Take-Two Interactive Software's former chief lawyer and its former chief accounting officer pleaded guilty yesterday to falsifying business records in connection with the company's improper backdating of employee stock options.

The former accounting officer, Patti P. Tay, 32, pleaded guilty in New York state court in Manhattan to making false entries in 2001 and 2002 on a spreadsheet of stock option grants, according to court records. The former general counsel, Kenneth I. Selterman, 52, pleaded guilty to providing false information in a March 2002 letter to regulators regarding options, prosecutors said.

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MyNutsYourChin5422d ago

Hearing something like this doesn't surprise me at all.

BaMYouRDeaD5422d ago

Take Two needs to get its act together. So many problems lately.