Former Take-Two executives charged with falsifying company records

Two former executives of Take-Two Interactive Software Inc. ("Take-Two") have plead guilty to misdemeanor charges involving falsifying company records in connection with backdated stock options. The former general counsel of Take-Two was fined $50,000 (U.S.) and has been permanently barred from holding certain positions in publicly-traded companies. The former comptroller of Take-Two was fined $300,000 (U.S.) and was barred from holding certain positions in publicly-traded companies for five years.

More coverage at: C/Net News.com

Related blog entry in one of our past postings.