Gamasutra: The Art & Business of Making Gamesspacer
arrowPress Releases
July 6, 2015
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

The Workshop
The Workshop — Marina Del Rey (Los Angeles), California, United States
[07.06.15]

Software Engineer (all levels)
Havok.com
Havok.com — Dublin, Ireland
[07.06.15]

Senior Tools Engineer
2K
2K — Novato, California, United States
[07.03.15]

Senior Rendering Engineer: Core Technology Group
Outpost Games, Inc.
Outpost Games, Inc. — Redwood City, California, United States
[07.03.15]

Senior Animator









Loading Comments

loader image