Take-Two being sued by shareholders

The New York Times reports (March 11, 2008) that Take-Two has been hit with a shareholder lawsuit alleging that the EA buyout deal was kept secret to benefit T2′s executives. The same day, Take-Two reported its first-quarter sales were down 15 percent despite Bioshock‘s late 2007 release and the company shipping a million copies of Carnival Games for the Wii.

The New York Times article cites regulatory filings that say Take-Two’s board passed a measure that would increase compensation for…