Activision says it is cooperating with federal insider trading probes

It received requests for information from the U.S. Securities and Exchange Commission and received a subpoena from a Department of Justice grand jury.

It received requests for information from the U.S. Securities and Exchange Commission and received a subpoena from a Department of Justice grand jury.

Activision Blizzard is collaborating with federal trade investigations by friends of its chief executive shortly before the gaming company announced its sale to Microsoft Corp, it said in a securities filing Friday.

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It received requests for information from the U.S. Securities and Exchange Commission and received a subpoena from a Department of Justice grand jury, the creator of “Call of Duty” said in an amended proxy filing.

The requests “appear to relate to their respective investigations into third-party trading — including persons known to Activision Blizzard’s CEO — in securities prior to the announcement of the proposed transaction,” it said.

Microsoft agreed in January to acquire Activision for $95 a share, or $68.7 billion in total, in the video gaming industry’s largest deal in history.

The company did not name the parties or say whether the grand jury subpoena was directed against an employee.

The filing did not disclose when the subpoena or SEC request for information was received.

Media moguls Barry Diller and David Geffen, and investor Alexander von Furstenberg, acquired stock options after Von Furstenberg met with Activision CEO Bobby Kotick and days before announcing the sale to Microsoft, the Wall Street Journal reported last month.

Activision Blizzard has informed these authorities that it intends to cooperate fully with these investigations.

Diller told Reuters last month that none of the three were aware of a potential takeover and had acted on the belief that Activision was undervalued and had the potential to go private or be acquired. read more

The amended proxy filing containing the information about the partnership with the SEC and DOJ came after shareholders sued the company for negligence in a preliminary power of attorney over the sale.

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