Publications
Publications
- November 2007 (Revised March 2009)
- HBS Case Collection
OppenheimerFunds and Take-Two Interactive (A)
By: Jay W. Lorsch, Andrew Hill and Kaitlyn Simpson
Abstract
Describes the dilemma faced by Emmanuel Ferreira, a fund manager at OppenheimerFunds. As the largest shareholder and a long-time investor in software publisher Take-Two Interactive, Ferreira contemplates whether or not to get involved with other investors in trying to replace the board of directors at Take-Two Interactive. The company has been encountering a number of problems with its accounting methods and in the design of its products, etc. All of this has led to a depressed stock price, which is of serious concern to the manager(s) at OppenheimerFunds as well as to other investors. This leads a media turnaround firm to contact OppenheimerFunds and other large Take-Two shareholders with the intention of ousting the company's board, replacing management, and rejuvenating the company. No fund manager at OppenheimerFunds has ever pursued such an action, and the case invites readers to weigh the pros and cons of Ferreira's options.
Keywords
Restructuring; Decision Choices and Conditions; Investment; Corporate Governance; Governing and Advisory Boards; Business and Shareholder Relations
Citation
Lorsch, Jay W., Andrew Hill, and Kaitlyn Simpson. "OppenheimerFunds and Take-Two Interactive (A)." Harvard Business School Case 408-074, November 2007. (Revised March 2009.)