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Photo illustration by Igor Golovniov/SOPA Images/LightRocket via Getty Images

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.

Go deeper

Dan Primack, author of Pro Rata
Dec 16, 2021 - Economy & Business

SEC goes on rule-making spree

Illustration: Aïda Amer/Axios

Federal securities regulators went on a rule-making spree Wednesday, including new proposals related to executive stock trading and corporate share buybacks.

Why it matters: This felt like a giant throat-clearing, as the SEC prepares to address issues like crypto and SPACs in 2022.

The front-runners for Biden's Supreme Court pick

Judge Kentaji Brown Jackson (left) and Justice Leondra Kruger (right) Tom Williams-Pool/Getty Images and Lonnie Tague, US Department of Justice

Two highly accomplished Black female judges — Ketanji Brown Jackson, a judge on the D.C. Circuit Court of Appeals; and Leondra Kruger, a justice on the California Supreme Court — are seen as the early front-runners to replace retiring Supreme Court Justice Stephen Breyer.

The big picture: Jackson is a powerful federal judge with a record that progressives feel they can trust. Kruger was a highly regarded litigator and has carved out a reputation for working well with conservative judges.

Fed: Rate hikes are near

The Federal Reserve's headquarters building. Photo: Anna Moneymaker/Getty Images

The Federal Reserve is on track to raise its main target interest rate in mid-March, as Chair Jerome Powell pledged to be "humble and nimble" in adapting policy to a fast-changing economy.

Why it matters: Fed leaders are looking to choke off inflation by raising interest rates in the near future, but keeping its options open for how fast and far the effort will go.

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