The SEC said the company knew employee retention issues were “a particularly important risk in its business” but did not have adequate measures in place to manage workplace misconduct complaints across business units between 2018 and 2021.
“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,” Jason Burt, who heads the SEC’s Denver office, said in a statement.
The video game developer and publishing company, which makes the popular “Call of Duty” game, also required employees between 2016 and 2021 to tell the company if the SEC contacted them for information – a violation of whistleblower protection rules, the agency said in the statement.
Representatives for Activision Blizzard, which did not admit or deny the SEC’s charges, said in a statement they…
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