Take-Two is facing yet another lawsuit, but that duration it’s by shareholder. Filed last Friday, Take-Two shareholder Patrick Solomon alleges that the “outright rejection of EA’s offers and failure to negotiate” are a failure to “reasonably respond” and “maximize shareholder value.” It’s plus alleged that the buyout offer was kept secret (albeit only for a short amount of time) in order to benefit executives.

ZelnickMedia partners Strauss Zelnick and Benjamin Feder are named in the lawsuit, which is focusing on a certain move made last month shortly before the EA offer was rejected. In the event that the company were bought out, Zelnick and his partners would stand to receive a significant bonus.  At the instance I referred to the move as “unsavory,” which is a sentiment which Solomon obviously agrees with.

GamesIndustry.biz is reporting that Take-Two released a statement saying, “We believe

that the claims lack merit, and mean to defend vigorously against them.”

Even though it seemed inevitable, I’m glad to see that is indeed going to court. It’ll be interesting to see how the case turns out and what impact it might have on a potential buyout of Take-Two.

image via The Infinite Monkey Project

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