Hot Coffee Cools For Take-Two News

Take-Two Interactive has today released a statement following the resolution of the US Federal Trade Commission's (FTC) inquiry into the Hot Coffee scandal.

Settling the issue with the FTC, which has confirmed that the matter had now come to a close without any fines or penalties to Take-Two, Paul Eibeler, President and Chief Executive Officer, stated, "We are extremely pleased that the FTC has concluded its very thorough investigation, and that the matter has been resolved. We recognize the importance of maintaining public confidence in the Entertainment Software Rating Board (ESRB) rating system and helping the ESRB educate parents and consumers about the rating system. We look forward to putting this behind us and focusing on what we do best - creating video games."

The FTC announced that Take-Two would now have to ensure that there would be a proper review of all code in future releases with all of the necessary ratings board, including the ESRB.

It's been a difficult time for Take-Two ever since the Hot Coffee 'scandal' first broke in early 2005, culminating in the release of several grand jury subpoenas by the New York District Attorney's office at the end of June. At least today's news should now mean that the company can focus its efforts in the run up to future releases.

We'll have more news shortly...