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The SEC is investigating Activision Blizzard over Sexual Misconduct Allegations. Bobby Kotick has been Subpoenaed
- Thread starter Helix
- Start date
- News Activision/Blizzard
User threadbanned: thread derailment. This is not the thread to discuss moderation policy.
Don't worry about it. We still have hype threads for Sony and MS 1st party etc. so Acti-Blizz hype is safe.
Pretty sure that was God of War. Definitely some deeply embarrassing shit with Dante's Inferno though.
I remember when Facebook got a fine for something egregious and it made their stock go UP because they can pretty much afford anything.
Fines are how the rich commit crimes.
SEC fines can be very very big. Largest on record now is $13 billion for a 2013 action against JP Morgan Chase, but judgements regularly hit the hundreds of millions US$.
Lying to shareholders, essentially.
They have to notify them of investigations and didn't.
OP
OP
I guess it's probably to enunciate the point that they own King Games too!
Ahh ok, that makes sense, the way the original tweet worded made it seem odd. Thanks.
Plus layoff more staff after their record breaking year from Cod: Vanguard + Warfare
So the SEC focuses on the financial side of this, who would focus on the employee side of this? The FTC? Basically, which federal agency would be the one to say, yo, stop treating your employees like shit or else.
Poor Bobby
It was ridiculous that in Moneyball he played an executive who said "We have no money to spare".
On topic, hope this leads to at least a LOT of pressure on Kotick and the higher ups who let Activision-Blizzard's unsafe workplace, and they resign as a result. It's time to clean house starting with the the most powerful and working downwards.
Yep. Although the SEC's authority only applies to stocks and investments. To go after their workplace culture, we're gonna need the labor department.
This was the question I had when I first saw this.
SEC investigations are about whether investors were defrauded. The only way I can see that being the case is if some internal audit of this stuff had happened, execs were aware it was a company-wide problem, but decided not to disclose to market, that would be problematic. Otherwise, if they were just viewing it as a case-by-case basis and then just kind of sloughed it off, it would mean they didn't intend to defraud the market.
Financial fraud always comes with that little bit of difficulty where it must be proven that the accused knew they were committing fraud or believed it must be hidden from affected parties. If the market was not one of those parties, the SEC will likely not be able to do much.
But more scrutiny on them is good.
Even if nothing comes of this the fact that the SEC got involved at all is definitely going to increase the pressure on Activision
