ACTIVISION SHAREHOLDER ALERT
Securities Litigation Partner James (Josh) Wilson Encourages Investors Who Suffered Losses Exceeding $50,000 In Activision To Contact Him Directly To Discuss Their Options
NEW YORK - (NewMediaWire ) - September 21, 2021 - Faruqi & Faruqi, LLP, a leading national securities law firm, is investigating potential claims against Activision Blizzard, Inc. (“Activision” or the “Company”) (NASDAQ: ATVI) and reminds investors of the October 4, 2021 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company.
If you suffered losses exceeding $50,000 investing in Activision stock or options between August 4, 2016 and July 27, 2021 and would like to discuss your legal rights, call Faruqi & Faruqi partner Josh Wilson directly at 877-247-4292 or 212-983-9330 (Ext. 1310). You may also click here for additional information: www.faruqilaw.com/ATVI.
There is no cost or obligation to you.
As detailed below, the lawsuit focuses on whether the Company and its executives violated federal securities laws by making false and/or misleading statements and/or failing to disclose that: (1) Activision Blizzard discriminated against women and minority employees; (2) Activision Blizzard 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 (“HR”) personnel and executives which went unaddressed; (4) the pervasive culture of harassment, discrimination, and retaliation would result in serious impairments to Activision Blizzard’s operations; (5) as a result as a result of the foregoing, the Company was at greater risk of regulatory and legal scrutiny and enforcement, including that which would have a material adverse effect; (6) Activision Blizzard failed to inform shareholders that the California Department of Fair Employment and Housing (“DFEH”) had been investigating Activision Blizzard for harassment and discrimination; and (7) as a result, Defendants’ statements about Activision Blizzard’s business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times.
On July 27, 2021, Activision Blizzard employees planned a walkout and work stoppage to support the petition against the Company, to be held the following day.
Also on July 27, 2021, Defendant Kotick sent an internal email apologizing for the Company’s “tone deaf” response to the DFEH lawsuit and promising “swift action to be [. . .] compassionate[,] caring [and] to ensure a safe environment.”
On this news, the price of Activision Blizzard shares traded at unusually high volumes and fell $5.89, or over 6%, to close at $84.05 on July 27, 2021, damaging investors.
The court-appointed lead plaintiff is the investor with the largest financial interest in the relief sought by the class who is adequate and typical of class members who directs and oversees the litigation on behalf of the putative class. Any member of the putative class may move the Court to serve as lead plaintiff through counsel of their choice, or may choose to do nothing and remain an absent class member. Your ability to share in any recovery is not affected by the decision to serve as a lead plaintiff or not.
Faruqi & Faruqi, LLP also encourages anyone with information regarding Activision’s conduct to contact the firm, including whistleblowers, former employees, shareholders and others.
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