EA Management Escapes Take-Two Judgement

That's what we call good business.

Posted by Staff
Take Two's Strauss Zelnick: EA's nemesis?
Take Two's Strauss Zelnick: EA's nemesis?
All Images (2) »
Leafing through EA's recent third-quarter earnings statements, we discovered that - in the United States at least - you don't get penalised for making mistakes in management.

We've already discovered that the failed bid for Rockstar owner, Take Two Interactive last year cost Take Two somewhere in the region of 2.6 million in various legal and related fees. What we don't yet know is exactly how much it cost EA. Well, we now know that the company, "incurred significant legal, banking and other consulting fees."

But, as we say, it's okay to take risks in the world of pre-credit crunch business in the USA. Why? Simple, "The costs incurred in connection with the abandoned proposal and tender offer were outside the ordinary course of business and will be excluded by the Company when assessing the performance of its management team."

We'd be intrigued to see if any UK-based publisher would be so lenient on its management - unless, of course, the management decides who is assessing the management.

Then again, we're also going to be intrigued to see what's happening with Take-Two's board as well. It's share price recently closed below the $7 mark at $6.79. This is some way off the $16.75 it stood at last year. What we do know is that Chief Financial Officer, Lainie Goldstein, disposed of 1,560 shares (leaving a substantial holding of 92,057) on February 2nd. Chief Operating Officer, Gary Dale, disposed of 3,833 shares, leaving a substantial holding of 110,868 following the transactions made on February 2nd.
Companies:

Comments

Posting of new comments is now locked for this page.