InfiniteCombo
Banned
Article link (might be paywalled):
U.S. Probes Meeting Between Activision CEO and Option Buyer https://www.wsj.com/articles/u-s-probes-meeting-between-activision-ceo-and-option-buyer-11648754313
Creating this thread on mobile, so apologies for the unorganized format. Anyway, here are select quotes from the article by the Wall Street Journal:
I'll update the thread to be more reader-friendly later, and provide my own thoughts. Regardless, thought this was newsworthy. Mods, feel free to lock the thread if it's not up to forum standards.
EDIT/UPDATE: Here is a non-paywalled source:
(I originally linked to the Wall Street Journal since they were the ones that broke the story, and as you can see from the PC Gamer article, they have a writeup that credits the WSJ anyway)
U.S. Probes Meeting Between Activision CEO and Option Buyer https://www.wsj.com/articles/u-s-probes-meeting-between-activision-ceo-and-option-buyer-11648754313
Creating this thread on mobile, so apologies for the unorganized format. Anyway, here are select quotes from the article by the Wall Street Journal:
Authorities investigating timely trading in Activision Blizzard Inc. [US:ATVI] securities are looking at at least one meeting between the videogame firm’s chief executive and one of three traders days before they placed a large bet on Activision shares, according to people familiar with the matter.
Activision CEO Bobby Kotick met with Alexander von Furstenberg in the week before Mr. von Furstenberg and media moguls Barry Diller and David Geffen bought options to purchase Activision shares at $40 each on Jan. 14. The options trade, which has generated an unrealized profit of about $59 million, was arranged days before Activision agreed to be acquired for $95 a share by Microsoft Corp., The Wall Street Journal has reported.
The Justice Department is investigating whether the options trade violated insider-trading laws, the people familiar with the matter said. The Securities and Exchange Commission is separately conducting a civil insider-trading investigation, the people said.
The meeting between Messrs. von Furstenberg and Kotick adds to the growing regulatory pressure on Activision and Mr. Kotick personally. The SEC is separately investigating Mr. Kotick and other Activision executives over how they handled workplace misconduct allegations, the Journal has reported, citing documents and people familiar with the investigation. That probe, along with an investigation led by the California Department of Fair Employment and Housing, has escalated since the Microsoft deal was announced. Activision has said it is cooperating with the SEC probe and has called a recent move by the California state agency to subpoena police records “an extraordinary fishing expedition.”
I'll update the thread to be more reader-friendly later, and provide my own thoughts. Regardless, thought this was newsworthy. Mods, feel free to lock the thread if it's not up to forum standards.
EDIT/UPDATE: Here is a non-paywalled source:
'Lucky' Activision stock purchase that led to $60M profit under investigation
All three investors have ties to Activision Blizzard CEO Bobby Kotick.
www.pcgamer.com
(I originally linked to the Wall Street Journal since they were the ones that broke the story, and as you can see from the PC Gamer article, they have a writeup that credits the WSJ anyway)
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