U S Justice Department Sec Investigating Activision Blizzard For Insider Stock Trading
The United States Department of Justice and the Securities and Exchange Commission have opened separate investigations against Activision Blizzard over suspicions surrounding its stocks being bought by Fox co-founder Barry Diller, socialite Alexander von Furstenberg, and music magnate David Geffen. Both federal agencies allege that the insider trading occurred before Microsoft acquired the embattled game publisher for nearly $70 billion on January 18. According to The Wall Street Journal, the three men bought $108 million of Activision Blizzard shares just a few days before Microsoft announced the sale that shook the game industry to its core....