Activision cooperating with federal insider trading probes
Activision Blizzard said in a securities filing on Friday that it is cooperating with federal investigations into trading by friends of its CEO shortly before the gaming company disclosed its sale to Microsoft Corp.
The maker of “Call of Duty” said in an amended proxy filing that it received requests for information from the Securities and Exchange Commission as well as a subpoena from a Department of Justice grand jury.
The requests “appear to relate to their respective investigations into trading in securities by third parties – including persons known to Activision Blizzard’s CEO – prior to the announcement of the proposed transaction,” the company said.
In January, Microsoft agreed to buy Activision for $95 per share, or $68.7 billion in total, in the largest video-game industry deal in history. more info
The company did not identify the parties, nor did it specify whether the grand jury subpoena was directed at any of its employees.