Take-Two settles shareholder lawsuit over EA bid refusal

Tuesday, 7 April 2009 15:42 GMT By Stephany Nunneley


Take-Two has settled a shareholder lawsuit over turning down EA’s offer to buy a controlling stake in the company.

Filed by Prickett, Jones & Elliott for shareholder Patrick Solomon during March of last year, Solomon sued over Take-Two refusing to accept the $26 per share offer.

No money changed hands, only an agreement granting Soloman additional disclosure.

Take-Two plans to fight any reimbursement of fees and legal expenses should Soloman decide to file for it.