Friday, February 3, 2023

Activision Blizzard Settles SEC Suit For $35M

Santa Monica-based Activision Blizzard has agreed to pay the SEC $35M to settle a lawsuit over the company's handling of workplace misconduct and the SEC's whistleblower protection rule, according to the SEC. The SEC charged Activision Blizzard had "failed to maintain disclosure controls and procedures to ensure that the company could assess whether its disclosures pertaining to its workforce were adequate." The SEC had started investigating Activision Blizzard in 2021, after complaints from employees of improper handling of sexual and personal harassment charges at the company.

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