Sep 20, 2021 - Technology
The SEC investigates Activision Blizzard, Bobby Kotick
The Securities and Exchange Commission is investigating Activision Blizzard in regards to the company's recent scandal over sexual misconduct and discrimination at the company, the Wall Street Journal reports.
Why it matters: The investigation is the latest in a series of high-profile escalations against Activision Blizzard.
- CEO Bobby Kotick, as well as several other executives, has been subpoenaed; the SEC has asked for communications from Kotick and senior executives around complaints of company harassment.
- The SEC is seeking documents "including minutes from Activision board meetings since 2019, personnel files of six former employees, and separation agreements the company has reached this year with staffers," per WSJ.
- A spokesperson for Activision Blizzard told Axios that the company is cooperating with the SEC.”
The big picture: The fallout from the Activision Blizzard scandal shows no sign of slowing down.
- Last week, a union supporting Activision Blizzard workers filed a complaint to the National Labor Relations Board.
- Shareholders have slammed the company's efforts to improve its culture so far, saying those promises do not go "nearly far enough to address the deep and widespread issues with equity, inclusion, and human capital management" that the company is facing."
- California expanded its anti-discrimination lawsuit against Activision Blizzard in August to include temporary workers.
Editors note: This story has been updated with comment from Activision Blizzard.