Activision Blizzard to give $35 mln over U.S. SEC charges
By MYBRANDBOOK
The video game developer and publishing company, which makes the popular "Call of Duty" game, Activision Blizzard, has to pay $35 million to settle U.S. Securities and Exchange Commission charges that it failed to have systems in place to properly handle disclosures of employee complaints and violated whistleblower protection rules.
The SEC said the company knew employee retention issues were "a particularly important risk in its business" but did not have adequate measures in place to manage workplace misconduct complaints across business units between 2018 and 2021.
"Activision Blizzard failed to implement necessary controls to collect and review employee complaints about workplace misconduct, which left it without the means to determine whether larger issues existed that needed to be disclosed to investors,” Jason Burt, who heads the SEC's Denver office, said.
Representatives for Activision Blizzard, said in a statement they were "pleased to have amicably resolved this matter" and had "enhanced" their workplace reporting and contract language.
The company made changes between May 2020 and May 2022 that enhanced the way complaints were collected and communication to senior managers, the SEC said in its order.
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