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Activision Blizzard To Pay $35 Million Settlement To SEC

According to new documents made public by SEC reveals that Activision Blizzard have agreed to pay $35 million to the agency.

This is directly related to their investigation that started back in September 2021 to see if the company notified investors about investigations into workplace misconduct. This came after a lawsuit was filed by California Department of Fair Employment and Housing against the company for alleged gender discrimination, sexual harassment, and a “frat boy” work culture.

The investigation found that while the company did notify investors and how it could effect the business on all fronts, management was found to be unable to account for any complaints of workplace misconduct.

It was also discovered that Activision Blizzard had many clauses in employee’s contracts stating they had to inform the publisher if they were contacted by government agencies or labor boards after said employee departs from the company. These were found in contracts dating all the way back to 2016 and were removed some time in 2022.

Activision Blizzard is required to pay the $35 million fine within the next 10 days and must also cease and desist from “committing or causing” any violations of the Exchange Act.

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