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Take-Two reaches $20 million Hot Coffee settlement

Tuesday, 1st September 2009 23:36 GMT By Patrick Garratt

hotcoffee2

Take-Two’s reached a $20 million settlement in the Hot Coffee case, the company said today.

$15,200,000 will be paid by the company’s insurancers, and $4,915,000 will be paid by Take-Two itself.

Win for the prudes. PR after the break.

Take-Two Interactive Software, Inc. Announces Settlement of Securities Class Action

New York, NY – September 1, 2009 – Under the proposed settlement, the class action will be dismissed in exchange for an aggregate payment of $20,115,000 into a settlement fund for the benefit of class members, of which $15,200,000 will be paid by the Company’s insurance carriers, and $4,915,000 will be paid by the Company. Take-Two fully accrued for its portion of the settlement costs over several quarters ended April 30, 2009. The Company also agreed to supplement the substantial changes that it has already implemented in its corporate governance policies and practices. The settlement is subject to the completion of final documentation and preliminary and final approval by the Court.

“We are pleased to have reached this settlement, which represents another important step forward for the Company,” said Strauss Zelnick, Chairman of Take-Two.

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6 Comments

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  1. ecu

    And so ends one of the most ridiculous saga’s of all time?

    #1 5 years ago
  2. Freek

    Pathetic.

    #2 5 years ago
  3. Phoenixblight

    THat’ll happen when hell freezes over. What it did teach them though don’t put in the game that can be damaging like that.

    20 million is chump change compared to what the company has made off the series.

    #3 5 years ago
  4. The_Deleted

    Why were they being sued? And by whom? And what the fuck has game content got to do with anyone but R* and T2?

    #4 5 years ago
  5. Phoenixblight

    Look up Hot coffee GTA.

    #5 5 years ago
  6. Freek

    There was some gamecode left over in the game from a scrapped sex mini game.
    Modders uncovered the code and made a download that included new character models to re-activate the game and included nudity into the scenes.

    It was basic, it was stupid, it was ugly.

    But some people apparently got upset about something they themselves had installed and decided to sue Take Two, the publisher of GTA.
    Because you can’t have sexual content in an M rated game.

    #6 5 years ago