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160°

Shareholder Sues Take-Two

A shareholder has sued Take Two Interactive because it allegedly kept the original take over offer from Electronic Arts secret and the company's executives used the offer as an opportunity to give themselves massive pay raises.

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next-gen.biz
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K33GAN6649d ago WhoDisagree(0)Agree(0)
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the latimes article requires a LOGIN. Do not post the latimes.com article, post this one. stop reporting this and approve.
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Sued by who? EA? Because that's what implied in your title. Use the original title: Shareholder Sues Take-Two
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http://www.latimes.com/business/la-fi-zelnick11mar11,1,2996267.story?ctrack=1&cset=true
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decapitator6649d ago

Oh man, T2 is so gonna get bought. More suing when they just recently finished with Jack T ?

barom6649d ago

See what happens when shareholders involve themselves into these companies.

They break them. They got no love for games, only money. If they had love for both I wouldn't mind.

The Lazy One6649d ago

They increased their pay almost 5 times. That's rediculous considering they may not even get bought out yet. When considered as a cost to stock holders, the guy suing them has every right to be pissed.

Bladestar6649d ago (Edited 6649d ago )

hehe.. some things are innevitable... for example.. the negative reaction on people when told not to make extra money.... investors in general love companies takeover... since chances are that they shares will never get as high as what the buyer is paying... specially if one conciders the fact that very few shares (if any) in this industry pays dividents and the only way to make money is by selling the shares... Money talks... unless another company offers to buy them and over bid EA... this will happen... innevitable...

Tempist6649d ago

Whatever happened to principles and dignity over making a dollar?

Stubacca6649d ago

Take 2 has a great name. People respect it and they have done well for themselves as a company, recieving acclaim for their public relations and commercial successes.

At this rate, EA will own everything.

Bladestar6649d ago

LOL... are we talking about investment here?

Ok... fine... lol... I know many of you hate EA and Microsoft more than you hate the taliban, rapists, terrorism, and other serious evil crimes... and strangely may not be able to tell the difference...

you see.. microsoft and EA are not doing any of the above... simply selling software and games.... paying taxes.. and give lots of people employment... it's true that many of you have a console that you love and even a game studio... and you may like one game over the other...

"principles and dignity" ... lol... investors who don't even play games in many cases... can't really understand what you mean by that...

Stubacca6648d ago

@Bladestar

Principles and Dignity go hand-in-hand with making great games. What you have to understand my friend is that both EA and M$ follow the expand and expunge strategy to business. We all acknowledge that turning profit is the means to which creative outputs reach consumers. But EA and M$ are out of line.

M$ makes money off EVERYTHING you buy on X-Box Live.

And EA does the same for downloadable content that is ridiculously overpriced.

But we need both. Just don't love them so hard, you'll get herpes or something...

RecSpec6649d ago

I'm guessing the one behind this lawsuit is connected to EA somehow, there is no such thing as a "coincidence" in the business world.

50°

44% of games industry professionals have considered leaving the industry as a result of redundancies

New report from Skillsearch found that 22% of those surveyed had been laid off within the past 12 months.

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gamesindustry.biz
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Community37d ago
Cockney37d ago

Well if that 44% left im sure there would be a lot less redundancies

40°

Stop Killing Games on the latest European Commission public hearing

It's a step forward for Stop Killing Games.

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rockpapershotgun.com
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Community37d ago
50°

"Be creative 99% of the time" – Glen Schofield on how creativity can help fix AAA industry woes

The Callisto Protocol director thinks the solution involves the right people, the right timing, and perhaps a little bit of AI

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gamesindustry.biz
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Community37d ago
lodossrage38d ago

I don't agree with that. I WISH I could agree with that. But buying habits and customer opinions prove otherwise

We've seen developers in the AAA space try new things and ideas. More often than not, the customers aren't willing to give things a chance, or not enough people buy into the project for it to grow.

Creativity works better in the indie space because the budgets, pressures, and expectations aren't the same.

Scissorman37d ago

it's a nice idea and it worked during the PS2/PS3-era when AAA didn't cost hundreds of millions of dollars. smaller budgets and shorter development time left room for more creativity and more risk. a game didn't need to sell 4 million+ copies to break even. things are different now.

__y2jb37d ago

This is the guy who bragged about crunching his staff and having them work through the night. Crunch culture has lost more talent and done more damage to the industry than any other factor. Screw him.