Take-Two Is on Notice

September 23rd, 2006, 11:55 Posted By: wraggster

Take-Two got a letter from the National Association of Securities Dealers Automated Quotations, or NASDAQ, indicating that the company is not in compliance with a filing requirement for continued listing on the NASDAQ Stock Market.

Take-Two knew it was coming, due to an internal investigation of the Bully publisher's stock option grants. This investigation has delayed the filing of Form 10-Q, required to maintain eligibility in the stock market.

The next step for Take-Two is to request a hearing with the NASDAQ Listing Qualifications Panel to review the Staff Determination. Until a decision is rendered Take-Two will continue to be listed under TTWO on the NASDAQ Global Select Market.

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