April 4th news, people familiar with the matter said that the US Department of Justice and the US Securities and Exchange Commission (SEC) are investigating the US Internet group IAC chairman Barry Diller (Barry Diller), his stepson Alexander von Furstenberg (Alexander von Furstenberg) ) and the question of insider trading in the large purchase of Activision Blizzard options by well-known musician David Geffen.
Investigation focuses on von Furstenberg’s meeting with Activision Blizzard CEO Bobby Kotick before calling optionsA brunch together. Then the three bought a large amount of Activision Blizzard options,a few days laterMicrosoft announced to buy Activision Blizzard for $68.7 billion.
The Justice Department and the SEC are trying to determine whether von Furstenberg used non-public information about Microsoft’s planned acquisition to benefit himself, Diller and Geffen.
The three met on January 14 this year$40 per shareThe price of buying Activision Blizzard’s options through JPMorgan Chase.Four days later, Microsoft announced that it would acquire Activision Blizzard wholly, and the company’s stock was priced at$95 per share.The trio bought about $108 million worth of Activision Blizzard options, which brought themabout $60 million(approximately RMB 382 million).
A spokesman for Kotick said, “Kortic and friends had a social brunch at a popular restaurant. Of course, he did not share any information about a possible deal with Microsoft with them.”
Diller said the deals were just “a simple coincidence” and clarified that the original recommendation to invest in Activision Blizzard did not come from von Furstenberg. Activision Blizzard shares have fallen nearly 30% since mid-2021 as the company is accused of sexual harassment, gender discrimination and pay injustice.
“Geffen told me he felt Activision was undervalued and that the company was either going private or acquired. I asked von Furstenberg, who is Arrow Capital’s chief investment officer, to join Geffen.focus on. They decided to buy the stock that morning. A business day later, Microsoft announced the acquisition.
“We didn’t know anything about that deal before that. The idea that we knew the news and went ahead and bought in is not credible,” Diller said. “All the information and records we provided to investigators supported it. my words.”
The SEC declined to comment. A representative for the Justice Department and von Furstenberg did not immediately respond to requests for comment.
After Microsoft announced its acquisition of Activision Blizzard, JPMorgan reported the trio’s deal to the SEC, a person familiar with the matter said. Microsoft’s acquisition of Activision Blizzard is the largest corporate takeover deal struck this year, and the company is still awaiting regulatory approval.
The American Internet group IAC owns many media and Internet companies such as Tinder and Expedia. Chairman Diller is a friend of Kotick. Von Furstenberg, who is also close to Kotick, frequently trades on behalf of Diller through family office vehicles.
“Three people raided large purchases of Activision Blizzard options before Microsoft’s acquisition, and they were investigated by the US Department of Justice”
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