Take-Two Targeted17 Feb, 2006 By: Holly J. Wagner
The “hot coffee” modification that got Take-Two Interactive into hot water with politicians and regulators is still serving up trouble, this time in the form of an investor class action suit.
So far, at least three law firms have solicited class members for a case in U.S. District Court for the Southern District of New York on behalf of people who bought Take-Two stock between Oct. 25, 2004, through Jan. 27, 2006.
The case alleges the scandal surrounding the graphically sexual content embedded in Take-Two's hot-selling Grand Theft Auto: San Andreas game, which players could unlock with the hot coffee mod, triggered a slide in the company's stock price. The complaint alleges Take-Two's management misled investors.