Activision Blizzard will pay $35 million to settle charges from the Securities and Exchange Commission that it “failed to maintain disclosure controls and procedures to ensure that the company could assess whether its disclosures pertaining to its workforce were adequate.” The settlement also resolves charges that Activision Blizzard violated whistleblower protection regulations. The company is settling the charges without admitting to or denying them.
"The SEC’s order finds that Activision Blizzard failed to implement necessary controls to collect and review employee complaints about workplace misconduct, which left it without the means to determine whether larger issues existed that needed to be disclosed to investors,” SEC Denver regional office director Jason Burt said in a statement.