Group of activist shareholders oust management

• TTWO makes video games including Grand Theft Auto series
• Has a $1.5B market cap
• TTWO news - stock chart

Group voted at annual meeting without soliciting any proxies

• Group holds 46% of shares
• Voted for an alternate slate of directors
• Approved contract with new management team
• Press release  3.29.07
• Form 8-K  4.04.07

• Management agreement
• Separation agreement
• Amended by-laws

Company filings

• Definitive proxy statement  2.28.07

• Ordinary annual meeting proxy statement

Company delayed annual meeting

• From March 23 to March 29
• Also changes record date to 3.29.07
• Company notice  3.19.07

Joint filing by activist shareholder group

• OppenheimerFunds
• D E Shaw Valence
• SAC Capital Advisors
• Tudor Investment

Group members have agreed to

• Attend annual meeting
• Reduce board from nine to six
• Vote for an alternative slate of six directors
• Approve a proposed management agreement to install a new management team

Joint filings

• Schedule 13D  3.12.07

• Exhibits
• Group agreement  3.04.07
• Proposed management agreement - ZelnickMedia
• Proposed amended by-laws

• Amendment #1  3.16.07 

• Exhibits
• First written consent
• Second written consent

• Amendment #2  4.02.07 

• Exhibit

13D filings

• OppenheimerFunds  6.48%

• Schedule 13D  11%  3.12.07

• Glenview Capital Management 

• Amendment #1  6.7%  12.26.06
• Schedule 13D  11%  3.09.06

13G filings

• Legg Mason Capital  6.48%  2.15.07
• OppenheimerFunds  24.64%  2.15.07
• FMR  14.1%  2.14.07
• D E Shaw  8.3%  2.14.07
• Wellington Management 0.57%  2.14.07
• Unicredito Italiano 7.3%  2.07.07
• Sigma Capital   0.8%  1.22.07
• Glenview Capital  6.7%  2.21.06