In another unprecedented attack on Take-Two chairman Ryan Brant, Banc of America Securities analyst Gary Cooper has repeated his argument that the company would be better off without Brant. Grant first made his assertion
early in February but has now commented that, ”We would consider more operational control in the hands of current CEO Jeff Lapin to be a significant positive for the company."
Cooper said he would be willing to change his perspective on Take-Two if the company resolved an ongoing investigation by the U.S. Securities and Exchange Commission or developed a new hit game beyond its blockbuster
Grand Theft Auto franchise, but he did not see either of those scenarios as likely.
Certainly the SEC investigation still shows no sign of being resolved with the company having to amend its fiscal 2003 annual reports twice in two days on Tuesday. Ironically the amendment concerned Brant’s salary which was originally stated as just $52,884 in 2003, when it was in fact $752,884.
Source:
Forbes
