Case Background:
This is a federal securities fraud class action lawsuit on behalf of those purchased or otherwise acquired Activision Blizzard, Inc. (“Activision”) (NASDAQ: ATVI) common stock between November 8, 2018 and November 16, 2021, inclusive (the “Class Period”).
The complaint alleges that, throughout the Class Period, 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, 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 granted Defendants’ Motion to Dismiss. On February 17, 2023, Lead Plaintiff appealed that order to the Ninth Circuit Court of Appeals, 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, please contact Kessler Topaz Meltzer & Check, LLP: Jon Naji, Esq. (484) 270-1453; toll-free at (844) 887-9500; 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.