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Take-Two Regains NASDAQ Compliance, CFO Winters Resigns

Take-Two has announced that it has regained compliance with the NASDAQ stock market, just one day after standing chief financial officer Karl Winters resigned, leaving senior VP of finance Lainie Goldstein in his place in the interim.

Brandon Boyer, Blogger

April 10, 2007

2 Min Read

Take-Two has announced that it has regained compliance with the NASDAQ stock market, just one day after standing chief financial officer Karl Winters resigned, leaving senior VP of finance Lainie Goldstein in his place in the interim. Ahead of a conference call later today, the company announced that "The NASDAQ Stock Market has notified [Take-Two] that it has regained compliance with NASDAQ's listing requirements. As a result, Take-Two's common stock will continue to be listed on The NASDAQ Global Select Market." The firm's shares are now in no danger of being delisted. A previously previously noted conference call scheduled for later on Tuesday is expected to largely focus on an update on the search for a permanent CEO, the company's new overarching strategy for improving profitability, and, until now, the future of standing CFO Karl Winters. The publisher has, of course, been the subject of a recent shareholder sweep led by OppenheimerFunds, D.E. Shaw Valence Portfolios, S.A.C. Capital Management and Tudor Investment, that has voted in a new board of directors. This follows a string of court battles and financial issues including its role in the recall of Grand Theft Auto following the infamous 'hot coffee' discovery and the recent stock-option backdating scandal, which is now at the center of an official SEC investigation. Said newly elected standing CEO Ben Feder, “Karl oversaw finance at Take-Two during challenging times for the Company. We thank Karl for his years of service to Take-Two. He was instrumental in assembling a highly competent financial team that will serve us well in the future. We appreciate Karl’s hard work and his continued support during the transition.” The search for a permanent CFO is already under way, and will likely be at the center of the April 10th conference call.

About the Author(s)

Brandon Boyer

Blogger

Brandon Boyer is at various times an artist, programmer, and freelance writer whose work can be seen in Edge and RESET magazines.

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