Activision Blizzard to pay $35 million to settle SEC investigation

Activision Blizzard Inc.
ATVI,
-1.24%
has agreed to pay $35 million to settle SEC charges that it failed to maintain disclosure controls related to complaints of workplace misconduct. The video game publisher also settled charges that it violated an SEC whistleblower protection rule, according to an SEC statement released Friday. “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, in the statement. Activision agreed to the settlement without admitting or denying the SEC’s charges.