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Take-Two shares take a dive

Aug 03 // Leigh Alexander

I'm developing this great idea for a dramatic sitcom based around the Take-Two offices. It will feature tense courtroom scenes as executives get caught backdating stock options and falsifying records against the dramatic backdrop of violent game controversy and the delay of GTA IV, which analyst Michael Pachter blames on the complexity of PS3 and Rockstar's exclusivity agreement with Sony.

Seriously, can you guys picture it? There would be a high-intensity hospital scene at the bedside of an anxious Jack Thompson, and the ever-troubled PR department at SCEA could make a cameo for comic relief.

Anyway, investors don't seem to think the whole deal is funny, though. NextGen.biz is reporting that Take-Two's shares have plunged 13% on the heels of the announced GTA IV delay, which is actually a bit of a recovery after cumulative losses at closing yesterday were about 19%. As of 10:00 AM ET this morning, shares were down about $2.17 to $14.74.

Maybe we can film investor rage for the sitcom? Bells ringing, papers flying, lariats made of neckties and game controllers?  


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