Take-Two also noted that during the law firm conducting the options review stated that the three former executives that “appear to have had significant involvement in the company's stock-option granting process declined to appear for interviews.”
The report also found that the option-granting process usually didn't follow the company’s rules and didn't have adequate controls in place. On top of this, the US publisher’s compensation committee “abdicated its option granting responsibilities” and allowed Brant to “control and dominate the granting process.”
Brant, along with former financial officers Larry Muller and James David Jr were forced to pay out a whopping $14 million to settle associated Securities and Exchange Commision civil charges. While the controversy surrounds former execs, current management including CEO Paul Eibeler and CFO Karl Winters were cleared last month.