Activision Blizzard Targeted by SEC; Kotick to Testify
More and more problems for Activision Blizzard. The company is being examined by the US Securities and Exchange Commission, and the company's chief legal officer has left the company.
- The case of Activision Blizzard is now being dealt with the US Securities and Exchange Commission;
- The organization launched an investigation, as part of which it requested access to numerous documents;
- Among them were records of Bobby Kotick's conversations with the company's execs.
Activision Blizzard has been plagued by nothing but problems lately. The company has recently been hit with another lawsuit and has also been accused of shredding incriminating documents. This situation caught the attention of the US Securities and Exchange Commission. The body has launched an investigation to see if Activision has adequately responded to the allegations.
As The Wall Street Journal reports, the commission requested access to a number of documents from the company. Among them were the files of six former employees. As part of the investigation, transcripts of conversations between the company's CEO, Bobby Kotick, and other executives will also be made available. They were supposed to revolve around complaints related to sexual harassment and discrimination at Activision Blizzard. A company spokeswoman also confirmed that as part of the investigation, some current and former employees (including Kotick) were subpoenaed by the SEC to testify.
The fact that U.S. Securities and Exchange Commission launched its own investigation is most likely related to the growing concern among investors. They are said to express their dissatisfaction with the increasing amount of unfavorable news about Activision Blizzard. The committee will look into whether the company has taken appropriate steps to address the issues.
This new investigation has broadsided Activision at a very bad moment. Just yesterday, the company's chief legal officer Claire Hart has left the company. She said goodbye to the position after three years of work, and announced her decision on LinkedIn. She did not refer to the controversy that currently surrounds the company.
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