SEC Is Investigating Activision Blizzard Over Workplace Practices, Disclosures

The Wall Street Journal2021-09-21

Videogame company also in talks to settle probe by Equal Employment Opportunity Commission Activision Blizzard’s offices in Irvine, Calif. The company is known for its Call of Duty, World of Warcraft ...

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Bob316
2021-09-21
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The company is known for its Call of Duty, World of Warcraft ...</p>\n\n<a href=\"https://www.wsj.com/articles/sec-is-investigating-activision-blizzard-over-workplace-practices-disclosures-11632165080?mod=hp_lead_pos5\">Source Link</a>\n\n</div>\n","source":null,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SEC Is Investigating Activision Blizzard Over Workplace Practices, Disclosures</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSEC Is Investigating Activision Blizzard Over Workplace Practices, Disclosures\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-09-21 07:35 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.wsj.com/articles/sec-is-investigating-activision-blizzard-over-workplace-practices-disclosures-11632165080?mod=hp_lead_pos5><strong>The Wall Street Journal</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Videogame company also in talks to settle probe by Equal Employment Opportunity Commission\nActivision Blizzard’s offices in Irvine, Calif. The company is known for its Call of Duty, World of Warcraft ...</p>\n\n<a href=\"https://www.wsj.com/articles/sec-is-investigating-activision-blizzard-over-workplace-practices-disclosures-11632165080?mod=hp_lead_pos5\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"ATVI","symbol_name":"动视暴雪","start_time":0,"source_url":"https://www.wsj.com/articles/sec-is-investigating-activision-blizzard-over-workplace-practices-disclosures-11632165080?mod=hp_lead_pos5","article_id":"1129128845","we_media_id":null,"thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1129128845","pubTimestamp":1632180937,"sourceInfo":null,"weMediaInfo":null,"summary":"Videogame company also in talks to settle probe by Equal Employment Opportunity Commission\nActivisio","collect":0,"end_time":0,"defaultTopTitle":"wsj.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"ATVI":"动视暴雪"},"translate_title":"美国证券交易委员会正在调查工作场所做法和披露的动视暴雪","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"ATVI":0.9},"content_text":"Videogame company also in talks to settle probe by Equal Employment Opportunity Commission\nActivision Blizzard’s offices in Irvine, Calif. The company is known for its Call of Duty, World of Warcraft and Candy Crush franchises.\nFederal securities regulators have launched a wide-ranging investigation into Activision Blizzard Inc., including how the videogame-publishing giant handled employees’ allegations of sexual misconduct and workplace discrimination, according to people familiar with the investigation and documents viewed by The Wall Street Journal.\nThe Securities and Exchange Commission has subpoenaed Activision, known for its Call of Duty, World of Warcraft and Candy Crush franchises, and several of its senior executives, including longtime Chief Executive Bobby Kotick, according to the people and documents.\nThe agency is asking for documents including minutes from Activision board meetings since 2019, personnel files of six former employees and separation agreements the company has reached this year with staffers, records show. The SEC is asking for Mr. Kotick’s communications with other senior executives regarding complaints of sexual harassment or discrimination by Activision employees or contractors, the documents show.\nAn Activision spokeswoman, Helaine Klasky, on Monday confirmed that the SEC’s investigation concerns “the company’s disclosures regarding employment matters and related issues,” adding that the agency has subpoenaed several current and former employees. “The company is cooperating with the SEC,” the spokeswoman said.\nAn SEC spokeswoman declined to comment.\nThe probe by the SEC significantly ratchets up the regulatory pressure on Activision, the largest U.S. videogame publisher by market capitalization. The SEC is requesting information to discern whether Activision and its executives properly disclosed allegations of workplace harassment and gender-pay issues, and whether any of that information should have been shared earlier with investors and other parties, according to the documents and people familiar with the investigation.\nThe California Department of Fair Employment and Housing sued Activision in late July,alleging the company paid women less than their male counterparts and provided them with fewer opportunities to advance. The agency also alleged that Activision ignored complaints by female employees of sexual harassment, discrimination and retaliation and maintained a “frat-boy” culture, primarily at its Blizzard Entertainment unit.\nActivision has said it would fight the charges from the California agency. It initially slammed the lawsuit, saying it included distorted, and in many cases false, descriptions of its past. Employees responded by planning walkouts, and Mr. Kotick said that Activision’s initial response was “tone deaf” and that the company had hired a law firm to investigate the complaints.\nSeparately, the Equal Employment Opportunity Commission has been examining allegations of gender-based harassment at Activision since at least May 2020, according to people familiar with the investigation and documents viewed by the Journal.\nThe company is in settlement talks with the agency and could pay millions of dollars to resolve the matter, according to those people. It’s unclear if the federal agency will publicly release the details of its findings.\nAn EEOC spokesman declined to comment.\nMs. Klasky of Activision said in a statement that Activision is deeply committed to making the company one of the best, most inclusive places to work.\n“We have made and are making a number of important changes to improve our policies and procedures to ensure that there is no place anywhere in our company for discrimination, harassment or unequal treatment of any kind,” the statement said.\nActivision has sought to stabilize its business since the filing of the California lawsuit. The company also is facing lawsuits from some of its investors. Its shares are down about 17% since the suit was made public, closing 4% lower Monday after the Journal reported on the SEC’s investigation and amid a broader decline in tech stocks.\nEarlier this month, the Communications Workers of America filed with the National Labor Relations Board against Activision, alleging worker intimidation. The charges include allegations that company management used coercive tactics to prevent its employees from exercising their rights to organize under federal law.\nIn a statement Monday, Ms. Klasky said the company has “made great efforts to respect the rights of all employees under the NLRB.”\nThe same day that the union filed charges, Activision said it hired two senior executives to help it build a more inclusive workplace and grow its revenue. Julie Hodges, a Walt Disney Co. executive, was named chief people officer and Sandeep Dube, a Delta Air Lines Inc. executive, was named chief commercial officer. Ms. Hodges, who had oversight of compensation, benefits and talent acquisition at Disney, is filling the role of human resources chief being vacated by Claudine Naughton.\nActivision, which is based in Santa Monica, Calif., had roughly 10,000 employees at the end of last year and posted $8 billion in revenue. Its console, computer and mobile games collectively boast nearly 400 million monthly players across 190 countries.\nWhile the videogame industry has long been known for its male-dominated workplaces and culture, scrutiny from public authorities over the treatment of female employees has increased in recent years.\nThe California regulator last month, in an amended complaint, accused Activison of withholding information from internal probes of discrimination and harassment complaints as well as gender pay equity. It also said the company had sought to curtail employees’ rights through “repressive, if not punitive” secret settlements.\nAn Activision spokeswoman didn’t immediately respond to a request for comment on the amended 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