The former CEO of Take 2 Ryan Brant has pleaded guilty to stock option-related charges and been ordered to pay settlements totalling $7.3 million.
Next-Gen reports that Brant has released a statement claiming to be “deeply sorry for his role in the inappropriate manner Take 2 granted incentive stock options”. He is now barred from holding controlling management positions at public companies.
The former CEO resigned from the publisher three months after the SEC announced it would be looking into Take 2’s stock option practices.
Prior to this latest ruling, in 2005 Brant and three other former Take 2 executives were ordered to pay $14 million in an SEC lawsuit concerning alleged fraudulent accounting practices.
No current Take 2 executives have been found at fault in the affair.
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