EA's Bid to Buy T2 Figures in Wall Street Insider Trading Charges

December 18, 2008 -

According to the Dow-Jones Newswire, federal investigators charged four men with today insider stock trading. One of the transactions named in the indictments was EA's bid to acquire T2 earlier this year.

No one from either Take-Two Interactive or Electronic Arts has been charged and there is no indication that the publishers had any inkling of the illegal stock trades. If government regulators are correct, however, information leaks from the Brunswick Group, a P.R. firm working on behalf of Take-Two, contributed to the crime. From the Dow-Jones report:

Four people were charged criminally Thursday in an insider trading scheme involving information about mergers or stock buybacks obtained from a Lehman Brothers Holdings Inc. broker's wife who worked at communications firm Brunswick Group LLC...

 

According to court documents, they were among a group of clients and friends tipped by Matthew C. Devlin, a Lehman Brothers broker, about 12 planned deals before their public announcements between 2005 and 2008...

 

Devlin allegedly obtained the information from his wife, who worked at communications firm Brunswick Group, according to court filings. The deals included... Electronic Arts Inc.'s (ERTS) hostile bid earlier this year for Take-Two Interactive Software Inc. (TTWO)...

 

Devlin has been charged criminally and in the SEC case... [other defendants]... referred to Devlin or his wife as the "golden goose," according to court documents.

The Guardian reports that there is no suggestion that Devlin's wife, Nina, a partner at Brunswick, knew of her husband's alleged stock market manipulations.

Comments

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

GAMEPOLITICS.COM
 
CONSTITUTIONAL AMENDMENT PETITION FORM
 
GP Statute 104.185: A person who knowingly signs a petition or petitions for a candidate, a minor political party, or an issue more than one time commits a misdemeanor of the first degree, punishable as provided in GP 775.082 or 775.083.
 
BALLOT TITLE: REMOVAL OF JACK THOMPSON FROM GAMEPOLITICS.COM
 
BALLOT SUMMARY: This amendment removes the internet troll known as John Bruce Thompson aka Jack Thompson from this website.
 
I am a member of Gamepolitics.com and hereby petition the webmaster of Gamepolitics.com to place the following amendment to the ballot in the general election.
 
I AM A REGISTERED MEMBER OF GAMEPOLITICS.COM.      _____ YES          _____ NO
 
NAME_________________________________________________________________
                      (Please Print Name As It Appears on I.D.)
E-MAIL _______________________________________________________________
STREET ADDRESS _____________________________________________________
CITY __________________________________STATE__________ZIP____________
MEMBER NAME _______________________________________
                        -OR-               DATE OF BIRTH ____________/________/__________
 
X _______________________________________________Date_____/______/______
                     Signature of Member
 
FULL TEXT OF PROPOSED AMENDMENT:
 
BE IT ENACTED BY THE PEOPLE OF GAMEPOLITICS THAT:
 
Article V, Section 15 of the GP Constitution shall be amended to read:
 
John Bruce Thompson aka Jack Thompson is no longer allowed, by penalty of humiliation to come to GAMEPOLITICS.COM.
 
Serial Number: ___________________ Approval Date: ______________
 
Return to: Gamepolitics.com

EZK: Ammended to not conflict with other articles of the GamePolitics constitution.

Sortableturnip's Law: As an online discussion of video game violence grows longer, the probability of a comparison involving Jack Thompson approaches 1

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

I like your amended version just as well, EZK  ;)

Sortableturnip's Law: As an online discussion of video game violence grows longer, the probability of a comparison involving Jack Thompson approaches 1

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

FULL OF WIN.

------------------------------------------------------------------------------

"Game on, brothers and sisters." -Leet Gamer Jargon

-----------------------------



"A Chrono Trigger is anything that unleashes its will or desire to change history!" -Gaspar

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

Uh-oh, Shadow. You posted a humorous picture to relate to the matter at hand. Devirous might come and insult people.

What EVER shall we do???

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

Pretend he does not exist? :)

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

Excellent option. Have a cookie.

------------------------------------------------------------------------------

"Game on, brothers and sisters." -Leet Gamer Jargon

-----------------------------



"A Chrono Trigger is anything that unleashes its will or desire to change history!" -Gaspar

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

mmmm cookie! nom nom nom nom nom

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

Keep dreaming, sparky

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

By the way, the frozen turkey in the recent Mythbusters "Best of" show is the head of former T2 Chairman Paul Eibler.  Somebody finally found a use for Paul Eibler.

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

Next time you have a thought, just let it go.

ANd hey, I hear Buster needs a stand-in, sign up, now.

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

 When shall they find a use for you?

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

Wow, more SEC problems related to Take-Two.  What a freaking surprise.

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

How much money will EA lose because of this?

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

Probably none.

While it was EA's stock information that was being leaked, neither EA nor T2 had anything to do with the insider trading.  This is purely a case of a middle man taking advantage of some knowledge that they were not supposed to.

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

Not a lot really. TTWO's market  cap is only about 700 million while EA sits on a hefty 5 billion.

If you think about it, the Bioware and Pandemic buyout was actually more than the market value of TTWO, sitting at 860 million, so TTWO is actually a steal for anyone looking to buy it.

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

so TTWO is actually a steal for anyone looking to buy it.

Assuming that they're willing to be bought. If they aren't, then the price fast approaches unreasonable as EA found out.

-Gray17

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

Well you can just buy up all the stocks if you wanted to (51%) for only about 350 million and do a corperate takeover, but EA does't want that to happen since (by experience) they probebly know that it will make everyone there unhappy and leave.

Re: EA's Bid to Buy T2 Figures in Wall Street Insider Trading

You can't take the current stock price and multiply by the number of shares needed. Trying to buy up that much will trigger a price increase.

 

 
Forgot your password?
Username :
Password :

Shout box

You're not permitted to post shouts.
E. Zachary KnightPHX, thanks. I fixed it.04/28/2015 - 9:14am
PHX CorpThere is a typo in the Gamestop raising 500K article, it should be 2015 not 210504/28/2015 - 8:36am
MattsworknameThis is the world now Colin, either get with the times, or get left behind. Your choice.04/28/2015 - 8:14am
Mattsworknamehttp://www.forbes.com/sites/insertcoin/2013/08/24/league-of-legends-finals-sells-out-las-staples-center-in-an-hour/04/28/2015 - 8:14am
Mattsworknamehttp://www.polygon.com/2014/7/29/5949773/dota-2-the-international-tournament-20-million-viewers04/28/2015 - 8:13am
Mattsworknamehe's not needed, not in the modern world, not in a world where more people attend the LOL finals for 5 million, then attend your average sports event.04/28/2015 - 8:12am
MattsworknameFunny that Colin Cowherd is so out of the times, he had to try multiple times to get the names of the games right. People like him are anachronisms.04/28/2015 - 8:10am
PHX Corphttp://kotaku.com/halo-mcc-esports-event-canceled-because-the-game-would-1700543158 Halo: MCC eSports Event Canceled Because The Game Wouldn't Work04/27/2015 - 10:15pm
Matthew Wilson@AE I know I was just stating where I stand on issues like that in general04/27/2015 - 8:12pm
Andrew EisenWho, Colin Cowherd? No one's suggesting he should be forced out. Or that he should commentate on video games.04/27/2015 - 8:10pm
Matthew Wilson@AE I do not think he should be forced ou though. he has his right to his opinion and shouldnt be forced out because people disagree with it.04/27/2015 - 8:07pm
ZippyDSMleeJim suggjested a pay what you want setup like humble bundel.04/27/2015 - 7:49pm
MontePerhaps they should just add a donation system for creators like the monthly pateron model. Only those who regularly make quality content can get compensated while those who would abuse the system are ignored04/27/2015 - 7:46pm
MontePaid mods is not a bad idea; i mean its only fair that makers be compensated and even better if they can do it full time. UNfortunatly there is too much that can go wrong and room for abuse04/27/2015 - 7:44pm
Andrew EisenYeah, working on that story now. Or rather, I'm working on finding time to write up that story.04/27/2015 - 7:40pm
Matthew Wilsonhttps://www.youtube.com/watch?v=Dll8eMJnTEE this crap is why sports fans and gamers dont get along. for love of god did I get sent back to 1995.04/27/2015 - 7:37pm
Matthew WilsonI do not think it will be the last time we see this. btw I am ok with paid mods.04/27/2015 - 7:10pm
ZippyDSMleehttp://www.pcgamer.com/valve-has-removed-paid-mods-functionality-from-steam-workshop/ 0_o04/27/2015 - 6:37pm
ZippyDSMleeMatthew Wilson:Humor and sarcasm sir.04/27/2015 - 6:36pm
Matthew Wilson@zippy there is no way they are going to merge with capcom becouse both companies are not in good shape. sony, Nintendo, and square are the only companies with enough money to pull it off in japan.04/27/2015 - 4:27pm
 

Be Heard - Contact Your Politician