Former Take-Two exec Robert Alexander is suing the firm for $50 million, Game Politics reports.
Alexander was the founder of Jack of All Games, the distribution company he sold it to Take-Two in 1998. After closing that deal he spent some time as a member of the T2 Board of Directors, leaving in 1999.
From the piece:
In 2003 Alexander formed a new distribution company, Game Ballers, and began negotiating with Ryan Brant and other execs to partner with T2 and Jack of All Games. Although Alexander began working with T2, his deal was never finalized before legal troubles forced Brant to leave the company in March, 2004. When Eibeler assumed the CEO post later in the year, Alexander apparently fell out of favor and alleges that he was not paid what he was owed.
If Alexander’s complaint is accurate, the numbers involved are staggering. The distributor claims that Brant agreed to pay him $240,000 in annual salary with 20% annual raises, a $25,000 monthly expense allowance, 50,000 shares of T2 stock plus options and $.50 per game handled by his distribution company.
More through the link.