Activision Urges Execs to Return Gains

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Video game developer Activision Inc., among the hundreds of firms targeted in a federal probe of backdated stock options, is recommending that 10 current and former executives give up any gains they may have received via backdated stock option grants.


The Santa Monica videogame developer said in a statement that an internal investigation had uncovered four current or former executives that were at least partly responsible for misdated grants, which were issued between 1994 and 2006.


Chief Executive Robert Kotick, Co-Chairman Brian Kelly and general counsel George Rose did not engage in intentional wrongdoing, according to the statement, which also said that the outgoing head of human resources and two former executives “bore significant responsibility” for the misdated option grants.


Shares in Activision were up 9 cents to $17.25 in afternoon trading Friday on the Nasdaq.

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