| COMPANY |
Activision Blizzard, Inc. |
| COURT |
United States District Court for the Central District of California |
| CASE NUMBER |
21-cv-06240 |
| JUDGE |
The Honorable Percy Anderson |
| CLASS PERIOD |
August 4, 2016 - July 27, 2021 |
| SECURITY TYPE |
Common Stock |
Case Background:
The Class Period commences on August 4, 2016, when Activision Blizzard, Inc. (“Activision”) filed a Form 10-Q for the quarterly period ended June 30, 2016. Throughout the Class Period, the defendants represented that Activision’s culture is one that is free of unlawful bias, harassment, intimidation, and discrimination of any kind. This securities fraud class action is brought on behalf of all investors who purchased or acquired Activision common stock between August 4, 2016 and July 27, 2021.
The complaint alleges that throughout the Class Period, the defendants made false and/or misleading statements and/or failed to disclose that: (1) Activision discriminated against women and minority employees; (2) Activision fostered a pervasive “frat boy” workplace culture that continues to thrive; (3) numerous complaints about unlawful harassment, discrimination, and retaliation were made to human resources personnel and executives which went unaddressed; (4) the pervasive culture of harassment, discrimination, and retaliation would result in serious impairments to Activision’s operations; (5) as a result of the foregoing, Activision was at greater risk of regulatory and legal scrutiny and enforcement, including that which would have a material adverse effect; (6) Activision failed to inform shareholders that the DFEH had been investigating Activision for harassment and discrimination; and (7) as a result, the defendants’ statements about Activision’s business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
Current Status of Case:
On January 22, 2023, the Court entered an order granting Defendants’ Motion to Dismiss the Complaint. Lead Plaintiff appealed that order to the Ninth Circuit Court of Appeals on February 17, 2023, and the Appellate Court affirmed the District Court’s decision on January 19, 2024. This action has concluded.
If you wish to discuss this action or have any questions concerning this notice or your rights or interests with respect to these matters, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; or via e-mail at info@ktmc.com. If you would like additional information about the suit, please click on the link "Submit Your Information" above and fill out the form as promptly as possible.