The Securities and Exchange Commission (SEC) opens a new inquiry and summons the company's CEO to testify. The investigation is still ongoing.
The US Securities and Exchange Commission has summoned Activision CEO Bobby Kotick to testify as part of a new inquiry into the firm stemming from a lawsuit brought by the California Department of Fair Employment in July. The controversy, which includes allegations of labor violations and sexual harassment, has alarmed the US government agency in charge of maintaining order and efficiency among the enterprises who participate in its market.
According to the information provided by the Wall Street Journal, the SEC probe is "extensive" and includes all previous claims, including wrongdoing and alleged discrimination. This call to B,, mobby Kotick, is intended to summon the company's most powerful representative, with the potential for this fact to affect Activision Blizzard's stock price in the future.
The Securities and Exchange Commission of the United States requested important papers.
The Commission appears to have requested documents such as the minutes of the 2019 Activision Blizzard board of directors meetings, which is when the alleged irregularities mentioned above allegedly began, in order to review all communications between senior executives and compare the complaints made by employees by possible sexual harassment and discrimination. They've also demanded documentation from former staff members with the details agreed upon with the corporation when formulating their employment separation, so they can examine what agreements they made before leaving.
We're talking about a complaint that was shared by over 2,000 employees, followed by the departure of J. Allen Brack, Blizzard's president and a vocal critic of the situation. Bobby Kotick just stated that those responsible would "be held accountable." Luis Barriga and Jesse McCree, the director and main designer of Diablo IV, as well as World of Warcraft designer Jonathan LeCraft, were fired a few days later. These are the people who were involved in the Cosby Suite, the hotel where various parties, sexist behavior, and alleged harassment occurred.
On August 25, Activision was charged with concealing and destroying important evidence in this case.
Similarly, The Campaign to Organize Digital Employees (CODE-CWA), a labor rights organization, filed a public complaint against Activison in September of the same year. They highlight alleged rights abuses using intimidating and coercive tactics in the document.
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