Ryan A. Brant

Washington, DC: (Feb-14-07) Ryan A. Brant, publisher of the "Grand Theft Auto" video games and founder and former chairman of Take-Two Interactive Software Inc., was convicted of backdating stock options to inflate their value. A civil lawsuit was filed in Manhattan's state Supreme Court alleging that during a seven-year period, Brant enriched himself and others by granting undisclosed stock options to himself and to other Take-Two officers and employees. Without admitting or denying the allegations, Brant consented to the entry of an order permanently enjoining him from violating or aiding and abetting violations of the antifraud, reporting, record-keeping, internal controls, and securities ownership reporting provisions of the federal securities laws and permanently barring him from serving as an officer or director of a public company Brant pleaded guilty to first-degree falsification of business records and agreed to pay a fine of $6.3 million. [MEDIA-NEWSWIRE: BACKDATED STOCKS]

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