Take-Two Shareholders Stage Successful Board Coup

A group of Take-Two Interactive Software Inc. (TTWO) shareholders owning 46.1% of the videogame maker's stock succeeded in removing the board and replacing it with six new directors

The upheaval comes as the maker of "Grand Theft Auto" videogames struggles to rebound from a stock-options scandal and return its operations to profitability. Earlier this year, former Chairman and Chief Executive Ryan Brant pleaded guilty to charges in connection with an options-backdating scheme.

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