Activision Blizzard (ATVI) to Pay $18 Million to Settle Sexual Harassment and Discrimination Claims

Activision Blizzard (Nasdaq: ATVI) reported that it reached an agreement with the U.S. Equal Employment Opportunity Commission (EEOC) to settle sexual harassment and discrimination claims in the company’s workplace.

ATVI will create an $18 million fund to compensate and make amends to eligible claimants, the company said in the statement Monday.

The EEOC’s three-year investigation found that ATVI failed to come up with corrective and preventive measures on sexual harassment complaints coming from a group of employees. The company has now appointed a third-party consultant to oversee and review the company’s practices and mechanisms in this regard.

“There is no place anywhere at our company for discrimination, harassment, or unequal treatment of any kind, and I am grateful to the employees who bravely shared their experiences. I am sorry that anyone had to experience inappropriate conduct, and I remain unwavering in my commitment to make Activision Blizzard one of the world’s most inclusive, respected, and respectful workplaces,” Activision Blizzard CEO Bobby Kotick said.

The agreement between parties is subject to court approval.

Shares of the company are up 0.3% in pre-open Tuesday.

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