Securities: Ex-Take-Two Head Pleads Guilty to Backdating

Ryan Brant, the ex-CEO of the video game publisher Take-Two, pleaded guilty to charges of backdating and agreed to pay $7.3 million to settle two options-related cases. Brant is Take-Two's founder. He apologized for his actions: "I am deeply sorry for my role in the inappropriate manner Take-Two granted incentive stock options. I accept responsibility for my actions, and apologize to the company's shareholders."

Ex-Take-Two head pleads guilty to backdating

Brant's plea settled a criminal case that was brought about by the Manhattan District Attorney's office and a civil action brought by the Securities and Exchange Commission. As a part of the settlement, Brant agreed not to hold control management positions at the company.