Activision Blizzard will pay $35 million to settle SEC charges over its handling of complaints
that it “failed to maintain disclosure controls and procedures to ensure that the company could assess whether its disclosures pertaining to its workforce were adequate.” The settlement also resolves charges that Activision Blizzard violated whistleblower protection regulations. The company is settling the charges without admitting to or denying them.
"The SEC’s order finds that 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,” SEC Denver regional office director Jason BurtThe SEC claims that, between 2018 and 2021, the company “lacked controls and procedures among its separate business units to collect and analyze employee complaints of...
. Nor did management review whether there were any material issues that would have warranted public disclosure, the SEC found.You can disable notifications at any time in your settings menu.
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