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Sarbanes-Oxley News & Developments
Take-Two, Executives Settle with SECThe SEC accused executives of engaging in fraudulent accounting practices designed to inflate revenue, enabling the company to meet earnings forecasts and triggering the payment of 'substantial bonuses.'
> > Former chairman and ceo Ryan Brant agreed to pay a penalty of $500,000 and disgorgement and pre-judgment interest of more than $3.1 million; former cfo James David Jr. will pay a $200,000 penalty and disgorgement and pre-judgment interest of $793,949; former executive vp and coo Larry Muller consented to pay a penalty of $500,000 and disgorgement and pre-judgment interest of more than $1.2 million; and current vp of sales Robert Blau agreed to pay a penalty of $50,000 and disgorgement and pre-judgment interest of $64,508.
The video-game maker
Source: CFO
Published:2005-06-13
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