Activision Blizzard is Now Being Investigated by the SEC

Activision Blizzard has been under a lot of fire over the last couple of months, owing to the company being sued by the DEFH in California on the grounds of widespread sexual harassment against and discrimination of employees. Obviously, there have been consequences, with many high-level employees either having to resign, or being let go, and unsurprisingly, there are going to continue to be more consequences.

As The Wall Street Journal reports, the United States Securities and Exchange Commission (SEC) has now launched a separate investigation into Activision Blizzard, with sexual misconduct and discrimination being the primary concerns of the investigations. Activision Blizzard was recently hit by a second lawsuit, with investors claiming that they’d been misled by the company when it failed to report its internal issues, so it doesn’t come as a surprise to see the SEC stepping in for its own investigation.

The SEC has subpoenaed Activision Blizzard CEO Bobby Kotick, among other members of the leadership team at the company, and has also demanded documentation from board meetings as far back as 2019, as well as separation agreements and personnel files related to various former employees. An investigation such as this one could potentially result in hefty fines or settlement payments, if evidence of wrongdoing should be discovered.

Activision Blizzard CEO Bobby Kotick has previously said that the company is taking measures to address its systemic issues, and that those found guilty of the alleged actions or of impeding justice will be held to account. Meanwhile, the company has also taken other steps, though some might argue that those are more performative than anything else. Here’s hoping they actually bear fruit.