Software Company’s Former GC Suspended for Three Years for Role in Backdating

The former general counsel of Take-Two Interactive Software, the maker of the popular "Grand Theft Auto" series, was suspended last week from the practice of law for three years for covering his boss's tracks in backdating stock options. A hearing panel had recommended only a one-year suspension for Kenneth Selterman -- but an appeals court ruled that he should receive a more substantial penalty in light of his position, "level of sophistication and legal experience and his apparent lack of remorse."