Activision-Blizzard Slapped With Insider Trading Allegations And Lawsuits

The world-renowned entertainment mogul Barry Diller recently denied allegations that he, his stepson, and his friend (David Geffen) engaged in insider trading after he reportedly placed “a lucky bet” on Activision-Blizzard call options which are now reportedly under investigation by the Justice Department and the Securities and Exchange Commission. According to The Wall Street Journal, Diller, his stepson, and Geffen all made “large bets” on Activision-Blizzard stock in January just days before the game maker was acquired by Microsoft. According to WSJ sources, these three individuals made an “unrealized profit of about $60 million on the options trade.”

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