The ongoing saga of Take-Two Interactive's allegedly unconventional finances took another twist today, when Banc of America Securities analyst Gary Cooper called for the removal of the company's highest corporate officer. According to Reuters, Cooper recommended the ouster of Take-Two Chairman Ryan Brant in a research document circulated to BoA clients, citing "the video game publisher's accounting troubles and his patterns of share sales."

　　A Vice President and Senior Research Analyst in the Consumer Group at BoA, a subsidiary of Bank of America, Cooper did not mince words. "Increasingly, given the uneven performance of the business and the continuing legal and accounting struggles, we believe Take-Two's board of directors should seek new leadership at the highest level, the chairman," he said in the research note.

　　One financial analyst familiar with the company told GameSpot, "Although I agree with [Cooper's] assessment of the insider issues at Take-Two, I think it's inappropriate for him to say that any officer should be replaced. I think that it's appropriate to have an opinion about effectiveness or competence, but it is beyond the scope of our responsibilities to recommend management changes."

　　For over a year, Take-Two has been under investigation by the Securities and Exchange Commission. Recently, Brant, on behalf of the company, received a Wells notice, a citation which informs corporations they face possible civil action by the U.S. government. In addition, Take-Two has come under fire by Haitian-American groups over a section of their best-selling game, Grand Theft Auto: Vice City.

　　As reported in GameSpot, yesterday, Take-Two reduced its expected earnings for the quarter ending January 31, 2004 by almost $30 million. Today, Take-Two shares on the NASDAQ closed at $28.85, down 88 cents.