A Securities and Exchange Commission probe into Activision Blizzard has concluded with the company paying a $35 million penalty.
At the heart of the probe were charges that Activision Blizzard did not have adequate procedures in place that allowed it to document employee workplace misconduct complaints. As a result of this inadequacy, Activision Blizzard could not, therefore, determine if the misconduct problems were severe enough to warrant shareholder disclosure. Additionally, the SEC found that wording in the company’s separation agreements was in violation of an SEC whistleblower protection rule, requiring former employees to notify the company if they received a request for information from the Commission or other investigative…