A lawsuit was filed on behalf of investors in Activision Blizzard, Inc. (NASDAQ: ATVI) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 02/05/2019 -- An investor, who purchased shares of Activision Blizzard, Inc. (NASDAQ: ATVI), filed a lawsuit alleged violations of Federal Securities Laws by Activision Blizzard, Inc.
Investors who purchased shares of Activision Blizzard, Inc. (NASDAQ: ATVI) have certain options and should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
Santa Monica, CA based Activision Blizzard, Inc. develops and distributes content and services on video game consoles, personal computers (PC), and mobile devices. On January 11, 2019, Activision Blizzard, Inc disclosed that it would be separating from its design and development partner Bungie, Inc. ("Bungie") and that Bungie will assume full publishing rights and responsibilities for the Destiny franchise. Bungie had developed the Destiny franchise with Activision as publisher. In the first five days of the Destiny franchise's release, it sold $325M at retail.
The plaintiff claims that between August 2, 2018 and January 10, 2019, the Defendants made false and/or misleading statements and/or failed to disclose that the termination of Activision Blizzard and Bungie's partnership, giving Bungie full publishing rights and responsibilities for the Destinyfranchise, was imminent, that the termination of the two companies' relationship would foreseeably have a significant negative impact on Activision Blizzard's revenues, and that as a result, Activision Blizzard's public statements were materially false and misleading at all relevant times.
Those who purchased shares of Activision Blizzard, Inc. (NASDAQ: ATVI) have certain options and should contact the Shareholders Foundation.
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