NEW YORK, Aug. 30, 2021 (GLOBE NEWSWIRE) -- Lowey Dannenberg P.C., a preeminent law firm in obtaining redress for consumers and investors, is investigating claims of violations of federal securities laws on behalf of investors of Activision Blizzard, Inc. (“Activision Blizzard” or the “Company”) (NASDAQ: ATVI). If you are a shareholder of Activision Blizzard with more than $100,000 in losses, you should contact the Firm.
Activision Blizzard is a video game holding company based in Santa Monica, California. The Company was formed by a merger between Activision, Inc. and Vivendi Games. The Company is a developer and publisher of interactive entertainment content and services. It develops and distributes content and services across various gaming platforms. Activision Blizzard has popular games like Call of Duty, World of Warcraft and Diablo under its umbrella.
On July 20, 2021, California’s Department of Fair Employment and Housing (DFEH) filed a lawsuit against the Company alleging rampant sexual harassment and gender discrimination. Following this news, Activision Blizzard’s stock price dropped precipitously.
A class action Lawsuit has been filed for all persons or entities who purchased or otherwise acquired securities of Activision Blizzard, Inc., between August 4, 2016 and July 27, 2021. The complaint alleges (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.
If you have suffered losses over $100,000 from investment in Activision Blizzard’s common stock from August 4, 2016 and July 27, 2021 and wish to serve as Lead Plaintiff for the Class, you must file a motion with the Court no later than October 4, 2021.
Any member of the proposed Class may move to serve as the Lead Plaintiff through counsel of their choice. You may obtain additional information about this lawsuit and your ability to become a Lead Plaintiff, by contacting Christian Levis at clevis@lowey.com or by calling 914-733-7220 or Andrea Farah at afarah@lowey.com or by calling 914-733-7256. The class action is titled Gary Cheng, et al. v. Activision Blizzard, Inc., et al., No. 21-cv-06240.
About Lowey Dannenberg
Lowey Dannenberg is a national firm representing institutional and individual investors, who suffered financial losses resulting from corporate fraud and malfeasance in violation of federal securities and antitrust laws. The firm has significant experience in prosecuting multi-million-dollar lawsuits and has previously recovered billions of dollars on behalf of investors.
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Lowey Dannenberg P.C.
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Tel: (914) 733-7256
Email: investigations@lowey.com
