CEO Bobby Kotick subpoenaed as SEC gets involved in Activision Blizzard lawsuit
The federal government is getting involved in the Activision Blizzard lawsuit, which they face for sexual misconduct and not properly disclosing information to shareholders.
Bobby Kotick, the CEO of Activision Blizzard, and multiple other high-ranking executives within the company, have been subpoenaed by the U.S. Securities and Exchange Commission (SEC). Activision themselves have confirmed the news and say they’ll be working together with the SEC during their investigation of ‘employment matters and other related issues’.
The SEC is investigating Activision Blizzard over sexual misconduct allegations and improper disclosures, the WSJ reports. It has subpoenaed Activision Blizzard CEO Bobby Kotick among others https://t.co/HPZAV6G2ik pic.twitter.com/l7GxhC0jzj
— Jason Schreier (@jasonschreier) September 20, 2021
According to a report by the Wall Street Journal, the SEC has decided to step in to take a closer look at how Activision Blizzard has handled allegations of harassment, sexual misconduct and discrimination. They also want to find out if any of the information on said harassment should have been disclosed to the shareholders of the company sooner.
Activision Blizzard were sued by the California Department of Fair Employment and Housing after a two-year investigation, as they claimed the company had a wide-spread culture of tolerating sexual harassment and discrimination based on gender. Along the way more problems surfaced, with a shareholder also suing the company for withholding information.
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