Take 2 Management Change. Cause for Concern?
SAN FRANCISCO/NEW YORK, March 7 (Reuters) - Investors who own 46 percent of Take-Two Interactive Software Inc. (TTWO.O: Quote, Profile , Research) unveiled plans to take over its board and oust the CEO, sending shares of the "Grand Theft Auto" video game maker up as much as 19 percent on Wednesday.
Take-Two management has been under fire for years for a series of issues, ranging from overstating revenue to problems with options grants. The company regularly failed to make financial targets and spawned a national controversy due to undisclosed sexual content in one of its hit games.