Take-Two Founder Resigns

Ryan Brant, founder of Take-Two Interactive, resigns from his inactive position.

Take-Two Interactive revealed in an SEC filing that the company's founder, Ryan Brant, resigned from the company on October 16th. Ryan Brant, having been Chairman until March 2004, had taken the position as President of Production following allegations surrounding SEC investigations into Take-Two's accounting processes and stock option grants. Since June 2006, Brant had been on paid disability leave related to back problems.

The accouncement of Brant's exit caused Take-Two's stock to fall 60 cents to $15.06 on the day of the filing report. A replacement for the production president job has yet to be declared.

Source: CNN