In a Nevada lawsuit filed last week against publisher Take-Two interactive, former executive Robert Alexander is suing the gaming giant for $50 million.

The lawsuit is the result of what Alexander claims is a breach of an oral contract. Alexander’s time with the company is long-standing, having been with T2 in some shape and form since 2004. After leaving the company, he formed another distributing company which began to partner with T2. Read more…

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Back in mid August, we reported that Take-Two had opened its boardroom doors to EA with the intent to jointly evaluate “strategic” *cough*buyout*cough* options.

It appears now that those talks have concluded and that the two sides could not see eye to eye — or more importantly, wallet to wallet.

Hit the jump for the full press release and some optimistic “the glass is half full” quotes from Take-Two execs. Read more…

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