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SEC Investigates Videogame Companies

by Steven Rodriguez - July 21, 2003, 8:01 pm EDT
Total comments: 4 Source: Yahoo!/Reuters

Acclaim, Activision and THQ need to submit information to the commission.

The three videogame giants admitted to recieving letters from the Security and Exchanges Commssion that asked them for information about their accounting practices. The SEC said that this request was in no way indicative that any crimes were broken, so the three companies saw every reason to fully cooperate.

As a result of this probe, the stocks of all three publishers took a pretty big hit on the Nasdaq, with their shares falling as much as 10 percent. This news serves as a reminder that the SEC still keeps an eye on the videogame industry, as it is still in the process of investigating Take-Two Interactive as well.


Felis Demens CCXXIJuly 21, 2003

*Gromble*... This is turning into a witch hunt now, where the SEC is issuing these inquiries to just anybody they don't like. And they expect the economy to get better with all this panic-mongering they're formenting?

NotRimmerJuly 22, 2003

Hey, received and Commission are both misspelled there. Received is understandable, as it's a pesky 'i before e' word, but misspelling Commission is a pretty egregious error. Getting the name of an organization wrong reeks of UNPROFESHUNALism. Please to be correcting these errors.

Grey NinjaJuly 22, 2003

Commission was a typo dimwit.

KnowsNothingJuly 22, 2003

No need to get harsh, Grey Ninja.

Oh, and NotRimmer, you spelled "unprofessionalism" incorrectly. face-icon-small-laugh.gif

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