The Securities and Exchange Commission (“SEC”) recently announced a settlement with Activision Blizzard Inc. (“Activision”), the publicly traded company that develops and publishes popular video games such as Call of Duty and Candy Crush. The settlement, including the company’s agreement to pay a $35 million penalty, came in anticipation of the SEC’s enforcement action for alleged violations of the Securities Exchange Act of 1934 (“the Exchange Act”). The SEC alleged that Activision violated the Exchange Act’s disclosure-controls procedures and whistleblower protection rules.
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