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[Jennings]

'Call of Duty' maker Activision Blizzard to pay $35 mln over U.S. SEC charges

Activision Blizzard Inc has agreed to pay $35 million to settle U.S. Securities and Exchange Commission charges that it failed to have systems in place to properly handle disclosures of employee complaints and violated whistleblower protection rules, the regulator said on Friday.

www.reuters.com

WASHINGTON/NEW YORK, Feb 3 (Reuters) - Activision Blizzard Inc has agreed to pay $35 million to settle U.S. Securities and Exchange Commission charges that it failed to have systems in place to properly handle disclosures of employee complaints and violated whistleblower protection rules, the regulator said on Friday.

The SEC said the company knew employee retention issues were "a particularly important risk in its business" but did not have adequate measures in place to manage workplace misconduct complaints across business units between 2018 and 2021.

I think that works out to approximately 0.0006% of ActivisionBlizzard's current $59~60,000,000,000 net worth.

 

[TheDraconian]

Kids, there's a lesson to learn here..

Never piss off the SEC.

 

[Henry Panic]

This is like me murdering the presidents daughter and the judge forcing me to pay a $500 fine when I make 120k a year.

 

[wvnative]

 

[reksveks]

I wouldn't compare the fine to the market cap, it's more sensible to compare it to the annual revenue and its still peanuts.

 

[feynoob]

Get fucked you sleezer.

 

[Ghost of Caelid]

Mins you , 35 million is like them asking you average person to pay a 100$ maybe for a fine, its not a punishment. The SEC needs to remove the S from its name.

 

[Barakov]

 

[TheThreadsThatBindUs]

How Bobby Kotick can still be holding the reins of the company after all this is anyone's guess?

The dude must have spent his entire career collecting dirt on every motherfucker in the game to be able to be this bulletproof.

 

[SlimySnake]

$35 million is pretty decent. hope it goes to the victims.

 

[Skifi28]

This is like me murdering the presidents daughter and the judge forcing me to pay a $500 fine when I make 120k a year.

That was...oddly specific.

You murderer.

 

[a multicultural team of v]

That was...oddly specific.

You murderer.

He probably just failed the RE4 escort sections too many times.

 

[NickFire]

How Bobby Kotick can still be holding the reins of the company after all this is anyone's guess?

The dude must have spent his entire career collecting dirt on every motherfucker in the game to be able to be this bulletproof.

Simple. Like him or not, in the next few months the company will either be sold for a share price in excess of market price, or the company will receive a couple billion (+) for not being sold. Barring anything really unforeseen at least.

 

[ComputerBlue]

Kids, there's a lesson to learn here..

Never piss off the SEC.

You mean never forget to bribe them?

Commit crime, make 1 billion, get fined 35 million, rinse and repeat.

 

[MikeM]

AB tomorrow:

“We have laid off employees equivalent to the fine.”

 

[Lord Malachite]

So the SEC is seizing Bobby's lunch money and saying "let that be a lesson to you." I'm sure it'll make all the difference in the world.

 

[Topher]

 

[Nydius]

Activision Blizzard: "Hold on, let me check the couch cushions in the Candy Crush studio. Okay, here ya go."

 

[willothedog]

Are fines tax deductible as it is an expense?

 

[Henry Panic]

He probably just failed the RE4 escort sections too many times.

Silly multi v. I meant the American president, not the Chinese one.


Lol

 

[Fuz]