Court tells ex-Take Two boss to take five years of probation
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Take Two? Take a couple million; it’s all the same to Ryan Brant. Brant, the former CEO of Take Two Interactive Software, Inc., avoided prison time after he cooperated with prosecutors to investigate stock-option backdating.
Brant, one of three Take Two officials convicted of falsifying business records, pleaded guilty last February. His attorney, Thomas Curran of Ganfer & Shore New York, recently said of the case, “This is a good reminder in an atmosphere where corporate heads are being sent to lengthy prison terms that, if you cooperate and you own up, you will be rewarded for your efforts.”
As conditions of Brant’s plea agreement, he is also required to pay a total of $6.3 million to settle a civil suit filed by federal regulators and another $1 million to New York City and state officials. Furthermore, Brant is barred from holding any “control management positions” in public companies.
For the full report, see: Bloomberg
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