California gaming giant agrees to pay seven-figure sum

Without admitting or denying claims, Activision Blizzard has agreed to pay $35 million to settle charges that it failed to implement necessary rules to address workplace misconduct.

The company failed to maintain disclosure controls and procedures to ensure that the company could assess whether its disclosures pertaining to its workforce were adequate, according to the U.S. Securities and Exchange Commission (SEC).

“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,” said Jason Burt, director of the SEC’s Denver Regional Office.

According to the SEC order, between 2018 and 2021, the company lacked controls and procedures among its separate business units to collect and analyze employee complaints of workplace misconduct. As a result, the company’s management lacked sufficient information to understand the volume and substance of employee complaints about workplace misconduct and did not assess whether any material issues existed that would have required public disclosure.

Last year, a federal court approved Activision Blizzard’s settlement with the Equal Employment Opportunity Commission (EEOC) relating to sexual harassment and discrimination in the workplace.

In 2021, Activision Blizzard chief...

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