As if things weren’t going rough enough for Activision Blizzard King already, the publishing giant is facing another investigation, this time from the Securities and Exchange Commission (SEC).
According to the Wall Street Journal, as part of the Securities and Exchange Commission’s new investigation, the SEC has subpoenaed a number of senior executives including CEO Bobby Kotick to provide internal communications about their responses to the recent harassment allegations.
Unlike the other ongoing investigations and lawsuits, the SEC is investigating whether Activision Blizzard King should have informed shareholders sooner about the ongoing lawsuit filed by California’s Department of Fair Employment and Housing, which accused the publisher of having a “frat boy” culture.
If that wasn’t enough, Activision Blizzard King is also being investigated by the Equal Employment Opportunity Commission (EEOC), who are directly investigating the claims of harassment with the aim of giving victims a settlement payout which could potentially be in the millions.
Following the public announcement of these investigations, Activision has responded in a press release, with CEO Bobby Kotick saying that “we are deeply committed to making Activision Blizzard one of the best, most inclusive places to work anywhere. There is absolutely no place anywhere in our Company for discrimination, harassment, or unequal treatment of any kind.”
According to the press release, Activision Blizzard “continues to productively engage with regulators, including the U.S. Equal Employment Opportunity Commission (EEOC), the National Labor Relations Board (NLRB), and the California Department of Fair Employment and Housing (DFEH) with the goal of improving its workplace policies and procedures and ensuring compliance.”