A lawsuit was filed on behalf of investors in Activision Blizzard, Inc. (NASDAQ:ATVI) shares over alleged securities laws violations.
San Diego, CA -- (SBWIRE) -- 08/17/2021 -- An investor, who purchased NASDAQ: ATVI shares, filed a lawsuit over alleged violations of Federal Securities Laws by Activision Blizzard, Inc.
Investors who purchased shares of Activision Blizzard, Inc. (NASDAQ: ATVI) have certain options and for certain investors are short and strict deadlines running. Deadline: October 4, 2021. NASDAQ: ATVI investors should contact the Shareholders Foundation at firstname.lastname@example.org or call +1(858) 779 - 1554.
Santa Monica, CA based Activision Blizzard, Inc., together with its subsidiaries, develops and publishes interactive entertainment content and services in the Americas, Europe, the Middle East, Africa, and the Asia Pacific.
On July 20, 2021, California's Department of Fair Employment and Housing filed a lawsuit against Activision Blizzard, alleging that female employees of Activision Blizzard are subjected to "constant sexual harassment," while Activision Blizzard's top executives and human resources personnel not only knew about the harassment and failed to prevent it, but also retaliated against employees who complained. The lawsuit alleges violations of the Equal Pay Act and the Fair Employment and Housing Act. California's Department of Fair Employment and Housing alleges that it found that Activision Blizzard, Inc discriminated against female employees in terms of conditions of employment, including compensation, assignment, promotion, and termination and consistently failed to take steps to prevent discrimination, harassment, and retaliation. In response, nearly 1,000 current and former Activision employees have signed a letter calling the Company's responses to the lawsuit 'abhorrent and insulting,' and dozens of current and former employees have come out on social media to share their own allegations of discrimination. Additionally, several gaming outlets have halted coverage of any games released by the Company.
Shares of Activision Blizzard, Inc. (NASDAQ: ATVI) declined from $99.46 per share on June 14, 2021, to as low $77.81 per share on August 3, 2021.
The plaintiff claims that between August 4, 2016 and July 27, 2021, the defendants the made false and/or misleading statements and/or failed to disclose that Activision Blizzard discriminated against women and minority employees, that Activision Blizzard fostered a pervasive "frat boy" workplace culture that continues to thrive, that numerous complaints about unlawful harassment, discrimination, and retaliation were made to human resources personnel and executives which went unaddressed, that the pervasive culture of harassment, discrimination, and retaliation would result in serious impairments to Activision Blizzard's operations, that 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, that 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 that 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.
Those who purchased shares of Activision Blizzard, Inc. (NASDAQ: ATVI) have certain options and should contact the Shareholders Foundation.
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