Portfolio watch: Grand Theft Auto scandal boosts Tudor's game

Thu Mar 1, 2007

If you're a chief executive in the midst of a U.S. Securities and Exchange Commission probe, surely it doesn't help your reputation (or your karma, for that matter) if your company's flagship product is something called "Grand Theft Auto," a video game that turns virtual pimping, murder and mayhem into digitized fun for mature teens and immature adults. That's what Paul Tudor Jones may have been thinking when the SEC ruled that Ryan Bryant, the former head of Take-Two Interactive (maker of "Grand Theft Auto") must pay $5 million in fines to settle alleged option-accounting abuses.

Tudor's team was no doubt watching the case closely, considering that Tudor Investments owned 1.5 million shares of Take-Two Interactive. Mind you, Tudor's hedge fund had already won its game. After all, Take-Two shares fell from $15 to $10 last summer. And regulatory filings with the SEC show that Tudor moved in to...

ISSN: 2151-1845 / CDC10004H

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