Further investigations over Hot Coffee?
July 22nd, 2005 (12:37pm) - Take Two may face investigations from the Federal Trade Commission (FTC) and the Securities and Exchange Commission (SEC) after the company reduced its Q3 revenue guidance by $40 million after the resolution of Hot Coffee. The FTC may begin an investigation on the grounds of indecency and/or false advertising related to GTA: San Andreas, and oversight the expulsion of the Hot Coffee sex minigame in all its forms from the disc itself. The SEC may begin an investigation as well, because top executives in the company sold off stock before the resolution of the ESRB to re-rate GTA: San Andreas to AO. To top it all off, a class action lawsuit over the decreased revenue guidance would become inevitable because of the stock taking a downturn as well as the reduced revenue outlook for Q3. Reported by David Amirian on July 22nd, 2005 (12:37pm) [From: GamesIndustry.biz]
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