Take-Two Faces Delisting

[Thunderfall]

IGN reports that Civilization IV publisher Take-Two Interactive has received a letter from NASDAQ indicating that the company is not in compliance with a filing requirement for continued listing on the NASDAQ Stock Market.

Take-Two knew it was coming, due to an internal investigation of the publisher's stock option grants and the delayed filing of Form 10-Q, which is required to maintain eligibility in the stock market. The next step for Take-Two is to request a hearing with the NASDAQ Listing Qualifications Panel to review the Staff Determination. Until then, Take-Two will continue to be listed under the symbol TTWO.

 

[tom1734]

what does this mean?

 

[Ranbir]

Is this a good time to buy a few shares of Take-Two?

 

[nighthidesnot]

Many companies have been dealing with the accounting treatment of stock options awarded to executives. I wouldn't worry about this...it has little to do with the company's value.

 

[jimkirk]

being listed means the public can invest in the company . and people buying stock and investing means the company can raise funds for projects .. if its good or bad for us playing folks if take 2 is delisted i dunno .. being listed also means conforming to certain accounting standards .. which means a little elss hanky panky .. and that means teh company will be around a litle longer .. not being listed means they are totally private (i think)and private companies play around with their finances if it suits them .. would it hurt us? only if it means it hurts firaxis(since take 2 bought firaxes)

i hope an accountant can make cents out of all this and tell us in plain language what it all means

 

[Dida]

Certainly very bad for a publicly traded company to get delisted, but even worse if there turned out to be some frauds with the stock options given to executives. For gamers it matters not. Even if Take-out goes out of business (won't happen from a delisting), some other company will buy their asset and continue to develope games like civ, as long as there is profit to be made. In short, the fate of gamers and civ is independent from Take-two, they can go out of business right now for all I care.

 

[FranklinNoble]

This is nothing but bad news for Take-Two, and not really great news for any games they publish, which could be stuck in limbo for a while as a result of this mess.

 

[GenMarshall]

Hopefully this mess will be cleared up soon

 

[Anunikoba]

Sounds to me like some paperwork just needs to be filed which hasn't due to internal activities within the company.

Maybe? Who cares, as long as the PATCH is still on schedule.

 

[AndreasS]

I want another expansion pack! Hope they can afford to make one.....

 

[T.A JONES]

hmm what if this is slippery slope, like a small enron. hopefully then a ecentric billionaire who loves civ3 buys the name and releases the ultimate upgrade package. um Ya THATS IT!

 

[civictor]

If they are delisted, they will still be traded on what is called the Pink Pages (over the counter transactions). The value of the stock typically drops, sometimes dramatically. Being delisted is considered quite bad in the investment world, so they wouldn't be in this trouble (failing to turn in the 10 Q) unless they had serious issues.

It will have no effect on distribution of their games in the short run since that is done by contract with stores. In the long run, if the company goes down the tubes, Firaxis and other games producers simply find another distributor. Play on!

 

[jimkirk]

wasnt firaxis bought by take 2? so now it isnt "that easy" to simply find another publisher

 

[Thunderfall]

Take2 acquired Firaxis last November.

Anyone here own some Take2 stock?