The Feds are investigating whether moguls Barry Diller, David Geffen and Alexander von Furstenberg violated insider trading laws by buying Activision Blizzard options shortly before the video game company announced an acquisition by Microsoft
The Department of Justice and Securities and Exchange Commission are investigating whether moguls Barry Diller, David Geffen and Alexander von Furstenberg violated insider trading laws by buying Activision Blizzard options shortly before the video game company announced an acquisition by Microsoft, theNEW YORK - MARCH 15: Inductee David Geffen attends the 25th Anniversary Rock & Roll Hall of FameGetty ImagesThe three men purchased call options to buy Activision Blizzard shares at $40 on...
“None of us had any knowledge from any person or any source or any anything about a potential acquisition of Activision by Microsoft,” Diller told“We acted simply on the belief that Activision was undervalued and therefore had the potential for going private or being acquired. And, if we had any such information we would never have traded on it—it strains credulity to believe we would have done so three days before Microsoft and Activision made their announcement.
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