Take Two has received a Wells Notice this week from the U.S. Securities and Exchange Commission. A Wells Notice is a letter sentvto firms when it is planning to bring an enforcement action against them. In this case, the S.E.C. is seeking to serve fines and file civil charges against the game developer, over the backdating of stock options.

The founder and former CEO of Take Two, Ryan Brant, along with two other former company officials have all been convicted within the last month of falsifying business documents.

This along with the announcement of the delay of GTA IV, the ban of Manhunt, has hurt the stock prices, yet some are optimistic, that this could be the beginning of the turn around, as Take Two was bought by a team of investors earlier this year to help turn the companies woes around.