Summary
Take-Two Interactive Software, Inc. (the "Company") filed a Form 8-K on October 22, 2003, reporting a significant legal event. On October 20, 2003, a lawsuit was filed in Tennessee against the Company, its subsidiary Rockstar Games, Sony Computer Entertainment America, and Walmart, among others. The lawsuit alleges that the video game "Grand Theft Auto III" was a dangerously defective product that led to "copycat violence" and harm to the plaintiffs' family members, who were minors at the time. The plaintiffs are seeking substantial damages, including $46 million in compensatory damages and $200 million in punitive damages against the corporate defendants. The Company firmly believes these claims are without merit, noting that similar lawsuits in other jurisdictions have been uniformly dismissed. Take-Two Interactive intends to defend itself vigorously and seek a dismissal of this action.
Key Highlights
- 1Lawsuit filed on October 20, 2003, in Tennessee against Take-Two Interactive and its subsidiary Rockstar Games.
- 2The lawsuit targets the video game "Grand Theft Auto III", alleging it was a defective and dangerous product.
- 3Plaintiffs claim the game led to "copycat violence" resulting in harm.
- 4Seeking $46 million in compensatory damages and $200 million in punitive damages from corporate defendants.
- 5The Company believes the claims are without merit and similar to previously dismissed lawsuits.
- 6Take-Two Interactive plans to defend itself vigorously and seek dismissal of the case.