Take-Two Shares Plummet

On news that Rockstar was being sued by the city of L.A., the aftermath of Hot Coffee, and the 'unhealthy relationship the board of directors has with its management' Take-Two Entertainment's shares dropped sharply on Friday. From the article: "Cooper said in a note that the company is burning cash at an 'alarming' rate and that he expects 'more title delays, a possible SEC investigation and key employee departures.' This comes immediately after the news that Audit Committee Chairwoman Barbara Kaczynski resigned from the board on January 19, because she felt that management had failed to keep the board informed of key issues."

Barbara Kaczynski

[larry bagina]

The article failed to mention that Ms Kaczynski was a token boardmember -- she was the former CFO of the NFL and was supposed to help out with the NFL. EA's 5-year Madden deal did her in.

More about the lawsuit

[robogymnast]

http://news.yahoo.com/s/nm/20060127/tc_nm/media_ta ketwo_lawsuit_dc [yahoo.com]
A better article about the lawsuit

My main problem is that LA is throwing the book at TakeTwo like they released the game with sex scenes in it, which they did not. There was no way to get to those scenes without using the third-party mod. You would think that this would not be a big deal - it's a GTA game for christ's sake.