Activision Blizzard has agreed to pay 35 million dollars to settle allegations of workplace misconduct, after it was subpoenaed last February over multiple reports of sexual harassment and discrimination. To announce it, the Securities and Exchange Commission (SEC) American.
In a statement released today on Friday, February 3, the SEC said that Activision Blizzard lacked the necessary tools and processes to adequately collect and investigate complaints of workplace misconduct filed by employees.
The government agency, which is charged with protecting investors and maintaining fair, orderly and efficient markets, also said that Activision Blizzard violated the law by violating an SEC whistleblower protection rule.
An Activision spokesperson told VGC magazine:
“We are delighted to have resolved the matter amicably. As the ordinance acknowledges, we have improved our disclosure processes regarding workplace reporting and updated the language of our separation agreement. We have done so as part of our ongoing commitment to operational excellence and transparency. Activision Blizzard is confident in its workplace information.”
Without admitting or denying the conclusions, Activision Blizzard accepted a cease-and-desist order and the payment of a fine of $35 million.
“The SEC order states that Activision Blizzard has not implemented the necessary controls to collect and investigate employee complaints on workplace misconduct, which left it without the means to determine the existence of broader issues that needed to be disclosed to investors,” he said Jason Burtdirector of the Denver regional office of the SEC.
“Also, take steps to prevent former employees from communicating directly with Commission staff regarding a possible securities law violation is not only bad corporate governance, it is also illegal“.
