Former Take-Two execs enter guilty pleas

Take-Two's former chief accounting officer and former chief lawyer have pleaded guilty to falsifying business records.

Bloomberg reports that Patty Tay, the former chief accounting officer, and Kenneth Selterman, the former general counsel, entered guilty pleas yesterday as part of an employee stock options backdating investigation.

In February, the company's former CEO, Ryan Brant, pleaded guilty to falsifying business records and received a sentence of five years probation and a USD 7.26 million fine.

Take-Two installed a new management team this year following the options scandal and five quarters of losses.