Take-Two Interactive Software announced today that it has regained compliance with Nasdaq requirements for listing its shares.
"We are pleased to put this issue behind us," said Take-Two chief executive, Ben Feder. "The new management team and board of directors intend to resolve all outstanding regulatory issues as quickly and effectively as possible."
Investors who collectively own about 46 percent of Take-Two took control of the company's board last month, ousting its senior management and replacing them with their choices. The changes were in protest over improper backdating of stock option grants and other accounting scandals.