At the annual meeting on March 29, 2007, Take-Two investors ousted five of six board members, including the chief executive, Paul Eibeler, who was replaced by Ben Feder[1]
Ryan Brant, former chief executive of Take-Two Interactive Software, pleaded guilty in February 2007 to falsifying business records. He faced up to four years in prison but received a lighter sentence in a plea agreement after agreeing to cooperate with prosecutors.[2]
In 2005, the U.S. Securities and Exchange Commission alleged in a lawsuit that Brant, with the company's former chief financial officers, Larry Muller and James David Jr., and its head of sales, Robert Blau, inflated revenue in fiscal years 2000 and 2001.