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Take-Two’s Former CEO Pleads Guilty in Options Case

The ex-CEO of Take-Two pleaded guilty on Wednesday of backdating options. Ryan Brant will pay $7.3 million to settle a criminal case brought against him by the Manhattan District Attorney’s office and a civil action brought by the Securities and Exchange Commission. Part of the agreement stipulates that Brant can not hold management positions at publicly traded companies. “I am deeply sorry for my role in the inappropriate manner Take-Two granted incentive stock options,” Brant said. “I accept responsibility for my actions, and apologize to the company’s shareholders.”