Gamasutra: The Art & Business of Making Gamesspacer
View All     RSS
November 23, 2014
arrowPress Releases
November 23, 2014
PR Newswire
View All






If you enjoy reading this site, you might also want to check out these UBM Tech sites:


Take-Two Finalizes Hot Coffee Settlement
Take-Two Finalizes Hot Coffee Settlement
September 1, 2009 | By Christian Nutt

September 1, 2009 | By Christian Nutt
Comments
    19 comments
More: Console/PC



A $20 million dollar settlement brings a close to a class action lawsuit brought against Take-Two by its investors. The company will pay $4.9 million itself, and insurance will cover the rest.

Investors had alleged their investments in the publisher were damaged by the scandal around the infamous hidden 'Hot Coffee' modification in Grand Theft Auto: San Andreas, over which Take-Two settled with consumers in 2007.

This new class action suit also relates to Take-Two's stock option grant investigation, which has already resulted in settlements to government agencies.

Take-Two says it's made changes to its management procedures and will continue to do so, to ensure problems like these do not crop up again. It also says that it has fully accrued the costs of the settlement over several financial quarters, ending April 30, 2009.

In an investor call today, Take-Two chairman Strauss Zelnick stated simply: "We're pleased to have reached this settlement and put this historical matter behind us."


Related Jobs

Infinity Ward / Activision
Infinity Ward / Activision — Woodland Hills, California, United States
[11.22.14]

Lead Game Designer - Infinity Ward
Cloud Imperium Games
Cloud Imperium Games — Santa Monica, California, United States
[11.21.14]

Technical Artist
Petroglyph Games
Petroglyph Games — Las Vegas, Nevada, United States
[11.21.14]

Environmental Artist
Nintendo of America Inc.
Nintendo of America Inc. — Redmond, Washington, United States
[11.21.14]

Software Business Development Manager, Licensing









Loading Comments

loader image