Jack Thompson’s Takes on Take-Two

It appears Take-Two Interactive‘s woes have only just begun. Apparently Jack Thompson is now attempting to influence Edward Johnson, chairman of Fidelity Investment (which, FYI, owns more than 20% of Take-Two) – that is, if this letter he supposedly sent Johnson is for real.

In his purported letter, Thompson reveals his knowledge of information concerning Take-Two – stuff that he claims even Fidelity doesn’t know – and says that someone at Fidelity urgently needs to talk to him as soon as possible.

Take a gander at the letter and tell us what you think.

July 13, 2006

Edward C. Johnson, III
Chairman
Fidelity Investments (FMR)

Re: Take-Two Interactive Software, Inc. (TTWO on NASDAQ)

Dear Mr. Johnson:

As you know, Fidelity reportedly owns more than 20% of the above company’s stock. In one year that stock has fallen in value from $28 to $9, primarily because of the “Hot Coffee” scandal which broke because of Senator Hillary Clinton‘s July 2005 press conference. I prepared Senator Clinton for that news conference, and here is a graphic depiction of the subsequent stock price tumble:

I was on CBS’s 60 Minutes twice last year regarding Take-Two, and the August 2005 issue of Reader’s Digest reported my efforts against this company. They didn’t report a tenth of what I know.

Mr. Johnson, I know some facts about Take-Two that your company apparently does not know. The latest SEC investigation of Take-Two, announced Monday, comes as no surprise to me. It may come as a surprise to you and your analysts, however, that there may be some very significant problems with certain information in Take-Two’s 10-K filed with the SEC months ago. I identified those potential problems immediately and shared them with the SEC. I also shared them with the lawyers who are seeking class action status for shareholders suing Take-Two.

One of the potential problems we have here (more accurately, that Fidelity has here, in my opinion) is the fact that the outside general counsel to Take-Two is the Philadelphia law firm of Blank Rome, which is also Take-Two’s registered lobbyist on Capitol Hill. What I can tell you about Blank Rome and other aspects of Take-Two’s problems might help explain why Take-Two’s audit chair, Barbara Kaczynski, quit the Take-Two board, hired a top-notch criminal attorney, and wrote the SEC about Take-Two’s alleged cover-up by senior management.

In short, without herein divulging all I know, I’ll say this: Somebody at Fidelity needs to talk to me immediately if not sooner. You all owe that to your investors.

Regards, Jack Thompson

Jack Thompson, Attorney

Via Kotaku

It appears Take-Two Interactive‘s woes have only just begun. Apparently Jack Thompson is now attempting to influence Edward Johnson, chairman of Fidelity Investment (which, FYI, owns more than 20% of Take-Two) – that is, if this letter he supposedly sent Johnson is for real.

In his purported letter, Thompson reveals his knowledge of information concerning Take-Two – stuff that he claims even Fidelity doesn’t know – and says that someone at Fidelity urgently needs to talk to him as soon as possible.

Take a gander at the letter and tell us what you think.

July 13, 2006

Edward C. Johnson, III
Chairman
Fidelity Investments (FMR)

Re: Take-Two Interactive Software, Inc. (TTWO on NASDAQ)

Dear Mr. Johnson:

As you know, Fidelity reportedly owns more than 20% of the above company’s stock. In one year that stock has fallen in value from $28 to $9, primarily because of the “Hot Coffee” scandal which broke because of Senator Hillary Clinton‘s July 2005 press conference. I prepared Senator Clinton for that news conference, and here is a graphic depiction of the subsequent stock price tumble:

I was on CBS’s 60 Minutes twice last year regarding Take-Two, and the August 2005 issue of Reader’s Digest reported my efforts against this company. They didn’t report a tenth of what I know.

Mr. Johnson, I know some facts about Take-Two that your company apparently does not know. The latest SEC investigation of Take-Two, announced Monday, comes as no surprise to me. It may come as a surprise to you and your analysts, however, that there may be some very significant problems with certain information in Take-Two’s 10-K filed with the SEC months ago. I identified those potential problems immediately and shared them with the SEC. I also shared them with the lawyers who are seeking class action status for shareholders suing Take-Two.

One of the potential problems we have here (more accurately, that Fidelity has here, in my opinion) is the fact that the outside general counsel to Take-Two is the Philadelphia law firm of Blank Rome, which is also Take-Two’s registered lobbyist on Capitol Hill. What I can tell you about Blank Rome and other aspects of Take-Two’s problems might help explain why Take-Two’s audit chair, Barbara Kaczynski, quit the Take-Two board, hired a top-notch criminal attorney, and wrote the SEC about Take-Two’s alleged cover-up by senior management.

In short, without herein divulging all I know, I’ll say this: Somebody at Fidelity needs to talk to me immediately if not sooner. You all owe that to your investors.

Regards, Jack Thompson

Jack Thompson, Attorney

Via Kotaku