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

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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.

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

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"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.

 

 
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Andrew EisenI think more professional gamblers should get into games publishing. They'll play the odds but they'll also take risks to maximize profits.06/30/2015 - 11:57pm
Andrew EisenAt the end of the day, the ball is rolling and it's rolling in the right direction. Maybe not as fast as we'd like, but it is moving. All we can do is play the games that interest us and make our thoughts known.06/30/2015 - 11:55pm
Matthew Wilsonits unfortunate that the dataset is so tiny for female leads, and is a mixed bag, so money people get the wrong idea.06/30/2015 - 11:54pm
Andrew Eisen"Duke Nukem Forever sold poorly. See? Games staring white guys don't sell!" Pretty silly thing to say.06/30/2015 - 11:50pm
Andrew EisenOr, at the very least, that gamers aren't turned off by female leads.06/30/2015 - 11:49pm
Matthew Wilsonyou would think games like metriod, portal and tomb raider would show that it work, but hopefuly those knew ones will.06/30/2015 - 11:47pm
Andrew EisenBut, luckily strides are being made and the money peoples are slowly learning that diversity -> larger targeted audience -> more potential dollars.06/30/2015 - 11:43pm
Andrew EisenSure does. That's why there should be more than just one or two attempts. (7 games at E3 with female leads and 35 with a gender option. I think it's safe to say that not all of these will fail!)06/30/2015 - 11:42pm
Matthew Wilsonthat puts alot of presure on the early stuff to do well. lets hope games like recode and harizon are good, and sell well.06/30/2015 - 11:38pm
Andrew EisenLuckily, money people also like to follow trends. So, it's a "simple" matter of making proper representation a trend. And wouldn't you know it, we're seeing the beginnings of exactly that!06/30/2015 - 11:34pm
Andrew EisenBut yeah, money people are risk averse. That's why we see so many sequels, reboots, and adaptations. To a lot of money people, "there's no evidence this works because it's rarely ever been tried" is the same as "this doesn't work."06/30/2015 - 11:33pm
Andrew EisenThat's why I think it's worth convincing the money peoples that proper representation (in any of its forms) isn't a financial risk, it's the path to expanding your audience and making even MORE money!06/30/2015 - 11:32pm
Matthew Wilson@AE will I agree, I kinda understand why. when your risking 50 to 100 mil you are going to try to do the safest thing you can sadly.06/30/2015 - 11:27pm
Matthew Wilsonhttps://www.youtube.com/watch?v=p0a6H_7_A5o a fairly impressive fake nx showing by hyberes5606/30/2015 - 11:23pm
Andrew EisenYou see that kind of nonsense in the movie business too.06/30/2015 - 11:02pm
Andrew EisenI think the bigger problem are those who see such things as substantive evidence that games with female leads don't sell well.06/30/2015 - 11:01pm
Matthew Wilsonit doesnt help that games like beyond good and evil did not do well.06/30/2015 - 10:58pm
MechaCrashThey don't advertise games with women leads because they don't sell because they don't advertise them because they don't sell because (repeat ad nauseum).06/30/2015 - 10:52pm
Andrew EisenAnd, with representation getting better and better, I think that's exactly what we'll see over the years.06/30/2015 - 10:49pm
Andrew EisenOf course, there's always the opposite viewpoint: perhaps more women would be inclined to join in the so-called AAA space if representation was better.06/30/2015 - 10:48pm
 

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