Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Friday, March 30, 2007

Take Two Shareholders Vote for Change

A shareholder group led by Oppenheimer Funds voted in five (or 6, depending on whose account you read) new directors at the annual meeting of Take-Two yesterday.  The new board then met and fired the CEO.  Take-Two has been unprofitable and in the midst of a back-dating options scandal.  Its previous CEO pled guilty last month on charges related to back-dating.  See NYTimes, Stockholders Oust Chief at Take-Two ; WSJ, Take-Two Holders Succeed in Board Coup.

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