Activision confirms to investors that it is being investigated by the Securities Exchange Commission, and affirms that it is complying with regulators.
Following yesterday's reports, Activision-Blizzard has sent out a press release that discloses the ongoing SEC investigation to investors. The billion-dollar gaming giant tells investors and the press that it is engaging and complying with all authorities and regulators.
Bobby Kotick, Chief Executive Officer of Activision Blizzard, said, "We are deeply committed to making Activision Blizzard one of the best, most inclusive places to work anywhere. There is absolutely no place anywhere in our Company for discrimination, harassment, or unequal treatment of any kind. While we continue to work in good faith with regulators to address and resolve past workplace issues, we also continue to move ahead with our own initiatives to ensure that we are the very best place to work. We remain committed to addressing all workplace issues in a forthright and prompt manner."
Kotick also said that the Company continues to productively engage with regulators, including the U.S. Equal Employment Opportunity Commission (EEOC), the National Labor Relations Board (NLRB), and the California Department of Fair Employment and Housing (DFEH) with the goal of improving its workplace policies and procedures and ensuring compliance.
It also confirmed that it is complying with a recent U.S. Securities and Exchange Commission (SEC) subpoena issued to the Company and several current and former employees and executives regarding disclosures on employment matters and related issues. The Company is confident in its prior disclosures and is cooperating with the SEC's investigation.
Activision is currently facing four high-profile complaints that may have precedential effects on the games industry:
- California Department of Fair Employment and Housing investigation alleging sexual misconduct and discrimination
- Charges of violating National Labor Relations Act with unfair labor practices (ULP) and alleged union busting
- Class-action lawsuit alleging securities fraud with over a dozen law firms trying to bring the case to trial
- SEC investigation regarding internal communications, workplace discrimination, and potential securities fraud
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