"An Activision spokeswoman...on Monday confirmed that the SEC’s investigation concerns the company’s disclosures regarding employment matters..., adding that the agency has subpoenaed several current and former employees..."
Wall Street Journal - September 20, 2021
***
Activision Blizzard's problems with the State of California and their related problems with messaging and personnel have only grown in the past 24 hours, as the Wall Street Journal has confirmed federal investigations of the beleaguered publisher by both the SEC and EEOC.
What are those agencies investigating and how does such an investigation proceed? Why is one potentially more serious than the other? And why does Activision's messaging keep failing to assuage investor fears?
It's time to make a federal case of it...in Virtual Legality.
CHECK OUT THE VIDEO AT: https://youtu.be/piDbzSfmnjM
#California #Activision #Lawsuit
***
CHANNEL SUPPORT
PATREON - https://www.patreon.com/VirtualLegality
STREAMLABS - https://streamlabs.com/richardhoeg
STORE - https://teespring.com/stores/hoeg-law-store
***
CHAPTERS
00:00 Introduction
01:23 The Securities and Exchange Commission (SEC) Investigation
11:29 Do you have to disclose investigations?
23:12 The Equal Employment Opportunity Commission (EEOC) Investigation
32:24 Activision and Investors Respond
35:41 Conclusion
***
Discussed in this episode:
"California vs Activision Blizzard: A Legal View"
YouTube Playlist - Hoeg Law
https://www.youtube.com/playlist?list=PL1zDCgJzZUy9PBxr5dNcoQLh2erIt2XrZ
"SEC Is Investigating Activision Blizzard Over Workplace Practices, Disclosures"
Wall Street Journal - September 20, 2021
https://www.wsj.com/articles/sec-is-investigating-activision-blizzard-over-workplace-practices-disclosures-11632165080
"The SEC Is Now Investigating Activision Blizzard for Discrimination and Harassment"
IGN - September 20, 2021
https://www.ign.com/articles/sec-activision-blizzard-federal-investigation
"How Investigations Work"
SEC Website
https://www.sec.gov/enforce/how-investigations-work.html
"Cheng v Activision Blizzard"
Filed August 3, 2021
https://www.bloomberglaw.com/public/desktop/document/ChengvActivisionBlizzardIncetalDocketNo221cv06240CDCalAug032021Co?1628012094
"Do You Have to Disclose a Government Investigation?"
Harvard Law Forum on Corporate Governance
https://corpgov.law.harvard.edu/2016/04/09/do-you-have-to-disclose-a-government-investigation/
Activision Blizzard
EDGAR FILINGS
https://www.sec.gov/edgar/browse/?CIK=718877&owner=exclude
"SEC investigating Activision Blizzard"
GamesIndustryBiz - September 20, 2021
https://www.gamesindustry.biz/articles/2021-09-20-sec-investigating-activision-blizzard
"Enforcement provisions"
42 USC 2000e-5 (EEOC)
https://www.law.cornell.edu/uscode/text/42/2000e-5
"What You Can Expect After a Charge is Filed"
EEOC Webpage
https://www.eeoc.gov/employers/what-you-can-expect-after-charge-filed
"What You Should Know: The EEOC, Conciliation, and Litigation"
EEOC Guidance Document
https://www.eeoc.gov/laws/guidance/what-you-should-know-eeoc-conciliation-and-litigation
"Activision Blizzard Provides Update on Workplace Initiatives"
Activision Press Release - September 21, 2021
https://investor.activision.com/news-releases/news-release-details/activision-blizzard-provides-update-workplace-initiatives
***
"Virtual Legality" is a continuing series discussing the law, video games, software, and everything digital, hosted by Richard Hoeg, of the Hoeg Law Business Law Firm (Hoeg Law).
CHECK OUT THE REST OF VIRTUAL LEGALITY HERE:
https://www.youtube.com/playlist?list=PL1zDCgJzZUy9YAU61GoW-00K0TJOGnPCo
DISCUSSION IS PROVIDED FOR INFORMATIONAL PURPOSES ONLY AND IS NOT TO BE CONSTRUED AS LEGAL ADVICE. INDIVIDUALS INTERESTED IN THE LEGAL TOPICS DISCUSSED IN THIS VIDEO SHOULD CONSULT WITH THEIR OWN COUNSEL.
***
Twitter: @hoeglaw
Web: hoeglaw.com
view more