Activision Blizzard, the video game maker that will be sold to Microsoft for about $ 70 billion, said in a legal filing on Friday that it would co-operate in investigating whether some of the company’s investors were involved in insider trading before announcing the deal.
The company said it had received a request for information from the Securities and Exchange Commission, which enforces securities rules, and the grand jury subpoena from the Justice Department. The requests were made in connection with an investigation into whether investors familiar with Activision’s chief executive Bobby Kotik were involved in insider trading of Activision stock before the Microsoft deal was made public.
“Activision Blizzard has informed the authorities that it intends to cooperate fully in this investigation,” the company said in a filing.
The Wall Street Journal reported in March that the three investors had planned a major purchase of Activision stock just days before the announcement, after they received about $ 60 million after the company’s share price soared. The Journal reported that one of them met with Mr. Kotik the week before the three men bought the stock. The filing does not have the names of the investors.
Activision and the SEC did not immediately respond to requests for comment. The Embattled gaming company, which produces titles such as Call of Duty and Candy Crush, has been on fire since last summer, when the California employment agency claimed it had a toxic, sex workplace culture that led to employees being fired and fired. Going. Some officers.