Judge permits securities fraud case against ex-Take-Two bosses

Some former bigwigs of Take-Two are in big trouble as shareholders are given the go ahead by a NY judge to proceed with a fraud claim.

Ex-CEOs Ryan Brant, Kelly Sumner and CFOs Larry Muller, James David now need to defend themselves against claims of securities fraud.

The lot are accused of backdating stock options whilst at Take-Two, leaving shareholders very unhappy indeed. Judge Laura Taylor Swain also green lit misrepresentation accusations against Brant and Sumner.

Brant is already in probation for a 2007 guilty plea to falsifying business records. Aren’t videogame related court case suits just so… spicy? Hey, we need to help promote our industry in all ways - which includes making our lawsuits the sexiest there is!

Source: Edge