The Klein Law Firm announces that a class action complaint has been filed on behalf of shareholders of Activision Blizzard, Inc. (NASDAQ: ATVI) who purchased shares between August 4, 2016 and July 27, 2021. The action, which was filed in the United States District Court for the Central District of California, alleges that the Company violated federal securities laws.
(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 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 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 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.
Shareholders have until October 4, 2021 to petition the court for lead plaintiff status. Your ability to share in any recovery does not require that you serve as lead plaintiff. You may choose to be an absent class member.
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