“The U.S. Securities and Exchange Commission is conducting an investigation concerning the company’s disclosures regarding employment matters and related issues, and has issued subpoenas to the company and several current and former employees that seek information related to this,” Activision said Monday in a statement to Bloomberg. “The company is cooperating with the SEC.”
The investigation was first reported Monday by the Wall Street Journal, which cited documents and people familiar with the investigation. The newspaper said that Activision Chief Executive Officer
Activision’s troubles have snowballed in recent weeks. In mid-September, a
In a July email to employees, Activision’s chief compliance officer called the California agency’s claims “factually incorrect, old and out of context.”
Kotick later apologized for a “tone deaf” initial response to concerns in a letter to employees and engaged a law firm to revamp the company’s practices. Activision recently
Shares of Activision fell 4.3% to $76.18 at the close in New York.
(Updates with company statement in second paragraph.)
To contact the reporter on this story:
To contact the editors responsible for this story:
Christopher Palmeri, Rob Golum
© 2021 Bloomberg L.P. All rights reserved. Used with permission.