Activision/Microsoft Deal Prompts Insider Trading Investigation [Mar 09, 2022, 12:20 pm ET] – 12 Comments
The Wall Street Journal reports (may require registration or subscription) that a probe is underway to determine
if some stock trades by Barry Diller, Alexander von Furstenberg, and David
Geffen were actually insider trading, rather than lucky timing. How could the
trio have come by alleged insider details? Well, Barry Diller and Activision CEO
Bobby Kotick served for years together on the Coca Cola board, Geffen is a
lifelong friend of Diller, and von Furstenberg is Diller's stepson, so it's a
pretty tidy setup.
Eurogamer has details for those without subscriptions:
On 14th January, the men spent more than $100m on Activision stock options priced at just $40/share, underneath the company's then $63 price. In effect, they were already making a profit.
Four days later, on 18th February, Activision announced it was being bought in a deal worth $95/share. If and when this deal is ratified, the men stand to make more than $100m in profit.
Current Headlines:
- Marvel's Avengers Final Patch
- Between Horizons Demo
- Formula Retro Racing - World Tour Early Access
- GunSuit Guardians Early Access
- On Sale
- Biz Buzz
- Game Crossovers
- Evening Multiplex
- Evening Consolidation
- Evening Mobilization
- Evening Metaverse
- Evening Tech Bits
- Evening Safety Dance
- Evening Legal Briefs
- ItB: Calling Dr. Doom
- Get Deep Sky Derelicts for Free
- ESA on Canceling E3
- BAFTA Winners Announced
- Galactic Civilizations IV: Supernova Announced
- Vampire: The Masquerade - Swansong on Steam in May
Copyright © 1996-2023 Stephen Heaslip. All rights reserved.
All trademarks are properties of their respective owners.
Privacy Policy. Manage Cookie Settings.
News CGI copyright © 1999-2023 James "furn" Furness & Blue's News. All rights reserved.
Chatbear v1.5.0/blue++: Page generated 1 April 2023, 00:04.