‘It was simply a lucky bet.’ Barry Diller denies accusations of insider trading on Activision deal that netted trio gains of $60 million

‘It was simply a lucky bet.’ Barry Diller denies accusations of insider trading on Activision deal that netted trio gains of $60 million

Although they’re known for their business savvy, Barry Diller and David Geffen have found themselves under scrutiny over some recent investments.

Federal prosecutors and securities regulators are investigating trades related to video game company Activision Blizzard by DreamWorks cofounder David Geffen, Diller, and Diller’s stepson Alexander von Furstenberg, the Wall Street Journal reported Tuesday citing people familiar with the matter.

Diller, von Furstenberg, and Geffen bought call options to buy Activision shares at $40 on Jan. 14, according to the Journal, days before Microsoft announced that it would be purchasing the company for $95 a share.