More on Take-TwoMichael Pachter, our favorite gaming analyst (even though we disagree with him constantly), had this to say about Take-Two:
Wedbush Morgan analyst Michael Pachter is advising caution on investment in Take-Two interactive, hinting that the recently issued grand jury subpoenas could signal criminal indictments for the publisher.
"We note that grand jury subpoenas are founded in criminal investigations," Pachter stated.
"As such, we believe that it is likely that one or more Take-Two employees may be subject to a potential criminal indictment."
..."It is impossible to speculate what the specific charges may be given the broad scope of the subpoenas, but we think that there is likely ‘probable cause’ for the New York DA’s office to seek such subpoenas," Pachter added.
Again, gaming sites are misunderstanding this and saying that it's about Hot Coffee. It's not. An indictment based on Hot Coffee, if one could even be created, would be laughed out of the courts. Hot Coffee wasn't a crime--it was a violation of FTC regulations because it was determined that Take-Two was deceptive in not disclosing the content. Apples and oranges. This is a criminal investigation.