Investment

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DOJ, SEC Investigate Possible Insider Trading In Microsoft

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Recently, Microsoft ($MSFT@US) entered an agreement to purchase Activision Blizzard ($ATVI@US), the gaming behemoth, but prosecutors and federal regulators believe that insider trading may have taken place. Barry Diller, Alexander von Furstenberg, and David Geffen all bought call options to buy Activision Blizzard at $90 per share on January 14, 4 days before the sale was announced, leading to unrealized profits of around $60 million. Only Diller spoke out, saying no insider information was used, calling the options trade, “simply a lucky bet.” At press time, Microsoft stock was down more than a percent at just over $275 per share.

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