Activision shares under investigation for trafficking

Activision shares under investigation for trafficking

According to a publication in The Wall Street Journal, there are three men inside the video game development company Activision are being investigated by the United States Department of Justiceit is about him co-founder of Fox, Barry Dillera member of high society, Alexander von Furstenbergand the music mogul, David Geffenand not just about the events of the last few months, where the company has found itself embroiled in all sorts of internal problems, they are now under two separate federal investigations.

This is due to suspicions that the use of privileged information, to be more specific enrichment based on it, since they are seen to be involved in the purchase of millions of dollars in shares of Activision just before the purchase of the company by microsoft.

These accusations focus on the purchase of the trio, with a value of $108 million in Activision Blizzard stockjust days before the Microsoft sale was announced in January, and following the deal, those same shares are now worth roughly $168 millionearning the three men a quick $60 million profit.

During the deal, the sums involved and the personal connection of one of the men with ActivisionBlizzardcertainly arouse suspicion, and as a result, the Justice Department is “investigating whether any of the option transactions violated insider trading laws,” while the Securities and Exchange Commission “is conducting a separate civil investigation into insider trading.”.

Now, of those three names, it should be noted that Barry Diller is the central figure here, as he served alongside the CEO of Activision, Bobby Kotickon the Coca-Cola board, or at least it was until kotick He recently resigned from that position as a result of the historic accusations of abuse and harassment at Activision Blizzard, and about the other two colleagues, they were not just that either, because according to diller has called kotick a long time friend.

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dillerin turn, is also a close friend of Geffen and is married to the mother of von Furstenbergso according to SEQ and the Justice Department they’ve decided to investigate the deals, and it’s not exactly having to work overtime to piece together the trio’s connections.

Then, diller officially told The Wall Street Journal that: “It was just a lucky bet. We do not act on any information of any kind from anyone. It’s one of those coincidences.”while von Furstenberg told the newspaper that he had been “buying Activision stock before that and the idea was that Activision would at some point go private or be acquired at some point.”