Activision Blizzard is currently facing a federal investigation, and the Wall Street Journal reported on Monday how the company handled employee allegations of discrimination, sexual harassment and sexual harassment in the workplace. Did. The company’s work environment has faced public scrutiny since the California authorities filed a lawsuit in July to file a similar claim.
The US Securities and Exchange Commission has summoned Activision CEO Bobby Cotic and several other senior executives, the journal reports. The newspaper cited sources familiar with the investigation and said it had seen documents related to the case.
An Activision spokesperson acknowledged the SEC’s investigation and told the journal that regulators are investigating “company disclosures on employment and related issues.” A representative of Activision said the company is cooperating with the SEC.
On July 20, the California Department of Fair Employment and Housing accused Activision Blizzard of accepting gender discrimination, sexual harassment, and a “flat boy” work culture in its predominantly Irvine-based Blizzard Entertainment sector. I filed a lawsuit. , California. Blizzard is best known for its Overwatch, Diablo and World of Warcraft franchises. The parent company Activision also publishes Call of Duty.
The California DFEH proceedings followed a two-year investigation, with complaints that Activision Blizzard nominated several executives who claimed to be aware of and made possible of the illegal activity in the workplace. One of them, J. Allen Black, president of Blizzard Entertainment, resigned two weeks later.
On the same day that Black resigned, Activision Blizzard shareholders told the company that negligent oversight and false statements to investors regarding employee complaints had devalued the company’s stock price. I filed a proceeding against it.
Similarly, a Securities and Exchange Commission survey found out how Activision Blizzard dealt with harassment and discrimination issues, and “should we have previously shared any of that information with investors or other stakeholders?” I’m investigating both.