Take-Two: new FTC requests too broad and costly

FTC - Image 1Another roadblock has appeared in the FTC’s ongoing probe into EA’s hostile takeover bid for Take-Two Interactive. Take-Two has declined to comply with a subpoena and civil investigative demand from the FTC, saying that the new requests are too broad and costly. More in the full article.

GTA 4's Niko Bellic - Image 1While Electronic Arts has so far been complying with information requests from the Federal Trade Commission (FTC), Take-Two Interactive has reacted rather strongly to new information requests from the FTC.

The FTC has recently issued Take-Two a subpoena and civil investigative demand (CID) requesting more info in connection with EA’s hostile bid for the company. Take-Two has yet to comply with these new requests.

In an explanation sent to a Washington D.C. U.S. District Court, Take-Two called the subpoena and CID “unnecessarily broad”. Take-Two also said that although it will comply with the FTC’s prior requests, it would fight against these new ones which would “entail unacceptable additional expense to the Company.”

A hearing has been assigned by the D.C. Court for June 24. There, a judge will have to decide if Take-Two is indeed required to comply with the FTC’s requests. Take-Two has stated that if they can’t come to a settlement with the FTC, they intend to oppose the FTC’s petition.

Via Reuters

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