The Securities and Exchange Commission has opened a “wide-ranging” investigation into Activision Blizzard, per The Wall Street Journal. The outlet experiences the SEC just lately subpoenaed the company and several other executives, together with CEO Bobby Kotick. The company has requested the writer to share a wide range of paperwork, together with correspondence Kotick wrote associated to complaints of sexual harassment tied to Activision staff and contractors.
Helaine Klasky, a spokesperson for Activision Blizzard, instructed The Journal the SEC’s investigation includes disclosures the company made concerning “employment matters and related issues.” The company reportedly hopes to search out out whether or not Activision correctly disclosed these issues, in addition to whether or not these disclosures ought to have been shared earlier.
An SEC investigation provides considerably extra regulatory stress on Activision Blizzard. In July, the California Department of Fair Employment and Housing (DFEH) , accusing its executives of fostering a “frat boy” workplace tradition. , solely 20 p.c of all staff at Activision’s Blizzard Entertainment unit are ladies, and so they’re persistently paid much less and neglected for promotions. One month later, DFEH to incorporate each staff and staff. It additionally accused the company of utilizing non-disclosure agreements to intervene with its means to deal with the workplace violations that had occurred on the studio.
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