Take-Two settles lawsuit and reports on the third quarter
Take-Two Interactive had a conference call today with investors and media to talk about the third quarter. During that call, the mentioned about the settlement for the Hot Coffee class action suit. Under the proposed settlement, the class action will be dismissed in exchange for an aggregate payment of $20,115,000 into a settlement fund for the benefit of class members, of which $15,200,000 will be paid by the Company’s insurance carriers, and $4,915,000 will be paid by the Company.
“We are pleased to have reached this settlement, which represents another important step forward for the Company,” said Strauss Zelnick, Chairman of Take-Two.
Third quarter sales were led by GTAIV, The Bigs 2, and Major League Baseball 2K9. They also covered what has been recently announced like, Rockstar Games announcing Agent, a new IP being developed exclusively for the PLAYSTATION®3 system by Rockstar North.
Ben Feder, Chief Executive Officer of Take-Two, noted, “Our strong lineup for the balance of this year includes a broad array of titles that we believe will appeal to both hard core and casual gamers. Anchored by several new titles from our blockbuster Grand Theft Auto series and the latest installment of our #1-rated NBA 2K franchise, our holiday portfolio will also feature Borderlands, a genre-defining new intellectual property. Looking ahead, we will continue to support our product development efforts with a solid balance sheet, operational improvements, and a creative team that is among the most talented in our industry.”
Their 2010 lineup looks like this:
BioShock® 2 Xbox 360, PS3, PC
Mafia® II Xbox 360, PS3, PC
Max Payne 3 Xbox 360, PS3, PC
Red Dead Redemption Xbox 360, PS3
Here’s the new trailer for GTA IV DLC: