Barry Diller denies insider trading on Microsoft, Activision deal as DOJ and SEC investigate him and Geffen

Key Facts

CNBC | Nbcuniversal | Getty Images Entertainment mogul Barry Diller strongly denied the idea that he, his stepson, and longtime pal and fellow mogul David Geffen engaged in insider trading in what he claims was was “a lucky bet” on Activision Blizzard call options reportedly now under investigation by the Justice Department and the Securities and Exchange Commission.
Diller, Geffen and Diller’s stepson Alex von Furstenberg together made large bets on Activision stock shares just days before that videogame maker said it had agreed to be bought by Microsoft on Jan. 18, The Wall Street Journal reported Tuesday evening.
Diller, who confirmed to The Journal that he had been contacted by regulators, in a statement to CNBC, said, “None of us had any knowledge from any person or any source or any anything about a potential acquisition of Activision by Microsoft.
The SEC declined to comment to CNBC, and the Justice Department did not immediately respond to a request for comment.