Take-Two Delays Filing Report, Cites Accounting

Take-Two Interactive Software Inc. delayed filing its annual financial report, citing newly discovered accounting problems.

The company found “material weaknesses” in accounting for some accounts payable valuations and software development costs, it said in a filing with the Securities and Exchange Commission. Preliminary operating results for the fiscal year ending Oct. 31 aren’t expected to change, New York-based Take Two said.

Shares of Take-Two rose 23 cents to $18.42.