Activision says it will cooperate with insider trading investigation into Microsoft deal

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Activision (NASDAQ: ATVI) disclosed that it received a request for information from the US Securities and Exchange Commission and a grand jury subpoena from the Justice Dept. likely related to trading before the announcement of Microsoft’s (NASDAQ: MSFT) planned purchase of the video game maker.

Activision (ATVI) informed the authorities that it planned to fully cooperate with the investigations, according to an 8-K filing on Friday.

The disclosure comes after the WSJ reported late last month that members of the DOJ were said to be looking into a meeting between Activision Blizzard (ATVI) Chief Executive Bobby Kotick and one of the three options traders before Microsoft (MSFT) announced it was buying the video game maker for approximately $ 69 billion.

The regulators are looking into activity activity made by media mogul Barry Diller, his stepson Alexander von Furstenberg and business magnate David Geffen. The WSJ, which first reported the inquiry in early March, noted that the three men were said to have an unrealized profit of roughly $ 60 million.

Diller told the WSJ that the men had no knowledge of the deal and if they did, would not have proceeded.

“Mr. Kotick had a social brunch with his friends at a popular restaurant,” Kotick told CNBC in a statement last month. “He of course did not share any information with them regarding a possible transaction with Microsoft.”

Also see, Activist urged Activision Blizzard holders to reject Microsoft’s purchase offer.

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