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Take Two Admits To Backdating

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HardOCP News

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The trend of backdating options continues with the latest scandal coming from the publisher Take Two Interactive. Can someone please explain to me how all these backdating CEOs are not in jail?

Last month, the company announced that some grants were incorrectly dated and that it would need to restate some financial results dating back to 1997. The company also noted at the time that its financial statements from 1997 through April 30, 2006, should no longer be relied on.
Click to expand...
 
This line from the YAHOO FINANCE page of Take TWO's stock summary says it all:

TTWO is deficient and delinquent.
 
The company I work for did the same thing. Top execs backdated their stock options, got caught and the CEO resigned.

Did he go to jail? Hell no. He's getting $5 million a year FOR LIFE as part of his severance package.

Plus, the incoming CEO was praised for being honest and open because he graciously "allowed" his backdated options to be rescinded, or gave them up, or whatever. I wonder if he would've given them up if their little scheme hadn't come to light.

And this affects everyone in the company because we can't purchase stock now until they get their books cleaned up. Not a word of apology either.

I want all these f****** in jail. Why people get rewarded for pulling this crap doesn't make any sense at all, except in the sense that this country is completely screwed up.
 
I think the Son of Sam law needs to be reworked to include a broader range, you can't make money off a company if you commit a crime while running it and you can't get money for being a bad parent and letting your children go engage in sexual activies with people they met on the internet.
 
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