Take-Two Interactive Software Inc.

09/16/2024 | Press release | Distributed by Public on 09/16/2024 06:06

Material Event Form 8 K

Item 8.01.

Other Events.

On May 2, 2022, IBM filed suit against Zynga Inc. ("Zynga"), a wholly-owned subsidiary of Take-TwoInteractive Software, Inc. (the "Company"), in the United States District Court for the District of Delaware. The suit alleged, in relevant part, that Zynga infringed its U.S. Patent Nos. 7,072,849 and 7,702,719. Starting on September 9, 2024, the case was tried before a jury, which, on September 13, 2024, returned a verdict finding that certain of Zynga's games infringed each of the patents and awarding damages to IBM in the amount of $44.9 million. The patents at issue have expired and Zynga will not have to modify or stop operating any of the games at issue. Zynga believes this result is not supported by the facts and the law, and intends to seek to overturn the verdict and reduce or eliminate the damages award through post-trial motions and appeal.