TAKE TWO INTERACTIVE SOFTWARE INC
TTWO
Financials
2
exclusion reasons
2 themes
This page is part of our public exclusion list — a transparency tool that shows which companies we screen out and why. It is not investment advice, and it is not an accusation. But it is subject to change as our understanding of the facts evolves.
Take-Two Interactive engaged in systematic revenue fraud from 2000-2001, improperly recognizing ~$60M through approximately 180 "parking" transactions. The company shipped hundreds of thousands of video games to distributors with no obligation to pay, recorded them as sales, then accepted returns in later periods. A key example: VP Robert Blau arranged a 230,000-unit shipment to Capitol Distributing on the last day of fiscal 2000, recording $5.4M in fake revenue, then disguised the return through a Capitol affiliate. The fraud inflated after-tax FY2000 earnings by $20M. SEC penalties totaled ~$14M across Take-Two ($7.5M) and four executives.
In Nov 2025, Rockstar Games (subsidiary of Take-Two Interactive) fired 30-40 employees across UK and Canadian offices — all members of an IWGB union Discord group. The union had recruited 10% of UK staff and was approaching the threshold for statutory recognition. Rockstar claimed the firings were for leaking confidential information; the IWGB called it "the most ruthless act of union busting in the history of the UK games industry." Over 200 Rockstar staff signed an open letter supporting the fired workers. IWGB is taking Rockstar to court for victimization and collective dismissal linked to trade union activity.
Research Sources
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Companies appear on our exclusion list based on our investment judgment — not because they've done anything illegal. This is a difference of values and opinion, not an accusation of wrongdoing. Exclusion does not constitute a recommendation against investing in any company, and absence from the list does not constitute a recommendation to invest.
This information is provided for educational and transparency purposes only and should not be relied upon as investment advice. Data is drawn from independent watchdogs, NGOs, government registries, and Ethical Capital's ongoing research — see Research Sources for the full list.
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