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Legal Issues

Legal Issues

by Mike Masnick


Filed Under:
grand theft auto, hot coffee, shareholders

Companies:
take two



Judge Decides That Grand Theft Auto's Hot Coffee Mod Didn't Deceive Shareholders

from the easter-eggs-remain-legal dept

Hidden "easter eggs" are quite common. These are little things hidden within software, often for the amusement of the programmers. In video games, it's often fun to try to find these hidden parts. It's really kind of a tradition for some. However, folks who didn't quite understand this freaked out a few years back, when the "Hot Coffee" mod/hidden content was revealed within the game Grand Theft Auto. This was a special modification to the game that would unlock a hidden part of the game allowing players to (gasp!) participate in consensual intercourse. It was such a big deal that various Senators proposed laws to prevent such a thing from ever happening again. And, there was even a class action for all those people "damaged" by this mod. And, because no moral outrage directed at companies is complete without a shareholder class action lawsuit, there was one of those as well -- accusing the company of somehow "misleading shareholders" with Hot Coffee. Luckily a judge has realized how ridiculous this is and has dismissed that particular claim in the shareholder lawsuit. Phew. Now software developers will be able to keep adding easter eggs and hidden content without a special explanation for all shareholders.

33 Comments | Leave a Comment..

 
Deals

Deals

by Mike Masnick


Filed Under:
consolidation, video games

Companies:
ea, take two



EA Makes A Bid For Take Two: Soon You'll Be Able To Shoot John Madden In GTA

from the who-will-make-a-video-game-about-a-consolidating-market? dept

It really was only a matter of time after the announced ActiBlizsion merger that someone was going to make a bid for Take Two Interactive, makers of the super popular (if controversial) Grand Theft Auto series of video games. Given Activision and Blizzard are focusing on their own merger, it probably makes sense that industry leader EA has stepped up to make the Take Two bid. EA apparently tried to get Take Two's board to agree to a deal, but when it turned EA's offer down (at a rather large premium), EA decided to go directly to the shareholders in a hostile bid. Take Two claims that the current offer undervalues the company (despite being a 64% premium on the stock price) because it expects the company's stock to rise after it releases the next edition of GTA in the spring. Of course, aren't stock prices supposed to reflect that kind of thing already?

18 Comments | Leave a Comment..

 
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