Last night the Nasdaq Stock Market halted the trading of Take-Two's shares, until further information was provided by the company regarding its financial reporting.
Trading in the company was halted yesterday at 4:09 p.m. EST after the company postponed the release of its Q4 financial report. Last month Take-Two announced that it would have to restate its earnings for all of fiscal 2000 and the first three quarters of 2001 due to faulty revenue accounting which artificially inflated its top line. The Nasdaq trading halt will remain in effect until the company has "fully satisfied Nasdaq's request for additional information", according to a Nasdaq press release.
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