Activision Blizzard Accused By Company Investor Of Hiding Truth In Light Of Employment Scandal In Class Action Lawsuit
Company investors of Activision Blizzard are taking the game developer to court after the latter allegedly hid crucial information from them while stocks were in the red.
Gaming Company Activision Blizzard Facing Class Action Lawsuit From Company Investors
According to online reports, Activision Blizzard is hit with a class action lawsuit filed by its investors that aims to recover the financial losses they had incurred when the company’s stocks experienced a massive blow in the market.
The Activision Blizzard Stock Class Action Lawsuit is accusing Activision Blizzard and its top officials of not properly disclosing key information to their investors during an employment scandal.
After government officials accused Activision Blizzard of perpetuating unfavorable working conditions that sparked massive worker protests, the company’s stocks experienced a sharp decline due to the news breaking out to the public.
Soon after, top company officials resigned from their positions in a bid to quell the massive backlash Activision Blizzard was going through at the time. However, they reassured everybody that they were not doing anything wrong that transgresses existing laws and regulations.
Amidst all of those, it is alleged that top management failed to disclose crucial details of the events to company investors.
Activision Blizzard Class Action Lawsuit Initial Brief
Filed by leading complainant Gary Cheng, the Activision Blizzard Company Investors Class Action Lawsuit is claiming that the company should be held responsible for its misdeeds.
In addition, it implored the court to compel the company to answer the allegations raised by affected investors who have suffered massive losses after the whole debacle.
Complainant Cheng is asking for the approval of a Class group consisting of eligible investors who have bought Activision Blizzard company stocks between the time of August 2016 to 27th July 2021.
Consider The Consumer will continue to bring you the latest details about this case. Stay tuned via the official website communications channels below.
About Activision Blizzard
Activision Blizzard, Inc., simply referred to as Activision Blizzard in this article, is a company that focuses on developing, making, and distributing different gaming products and services.
They are known for their highly popular games like Call of Duty, World of Warcraft, and others. Activision Blizzard is headquartered in Santa Monica, California.
Editor’s Note on Activision Blizzard Stock Class Action Lawsuit:
This article discusses the class action lawsuit California game developer Activision Blizzard is facing after aggrieved company investors took the brunt of a stock fallout caused by the company’s employment scandal. We suggest you to read the Pokemon Go Gambling Class Action.
Case Name(s) & No.: Gary Cheng v. Activision Blizzard Inc., et al.; Case No.: 2:21-cv-06240
Jurisdiction: United States (U.S.) District Court for the Central District of California
Products/Services Involved: N/A
Allegation(s): Activision Blizzard allegedly did not properly disclose significant information to their investors amidst an ongoing scandal that hurt their financial interests.
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