Take-Two Shareholders Revolt, Sack CEO and Elect New Board

The unprecedented occurred today as Take-Two shareholders revolted
against the scandal plagued leadership of the company. At an annual
shareholders meeting held today, a fresh set of directors were elected.
An investor group that owns a 46% stake in Take-Two, which includes
Oppenheimer Funds, officially took control of the company at the
meeting. The shakeup did not stop there, either. The new board ousted
the now former CEO Paul Eibeler, who has been the target of plenty of
criticism. Under his watch the Grand Theft Auto: San Andreas "Hot
Coffee" controversy boiled over, accounting issues have come to surface
and questions over stock options raised.