Multiple Law Firms Announce Class Action Lawsuits Against Activision Blizzard
After Bungie Split
https://wccftech.com/law-firms-class-action-activision-bungie/
The biggest news of 2019 so far in the games industry has to be Bungie
splitting from Activision Blizzard (NASDAQ:ATVI 47.27 2.72%) on publishing
the Destiny franchise. Following this news, Activision Blizzard stock dropped
ten percent.
Today, two different law firms have announced upcoming class action lawsuits
against Activision Blizzard, both citing materially false and misleading
public statements by the publisher just ahead of the aforementioned news. The
Class Period is for investors who have purchased shares of the company
between August 2nd, 2018 and January 10th, 2019; interested parties will have
to take action no later than March 19th, 2019.
We’ve posted the relevant excerpts from the press releases sent out by the
two law firms. For the record, these were not the first law firms to announce
class action lawsuits for the very same complaint. Federman & Sherwood,
Pomerantz LLP, Levi & Korsinsky, LLP, and Faruqi & Faruqi, LLP already did
the same between last week and this week.
Rosen Law Firm
According to the lawsuit, defendants throughout the Class Period made false
and/or misleading statements and/or failed to disclose that: (1) the
termination of Activision Blizzard (ATVI) and Bungie Inc.’s partnership,
giving Bungie full publishing rights and responsibilities for the Destiny
franchise, a series of science fiction-themed video games, was imminent; (2)
the termination of the two companies’ relationship would foreseeably have a
significant negative impact on Activision Blizzard’s revenues; and (3) as a
result, Activision Blizzard’s public statements were materially false and
misleading at all relevant times. When the true details entered the market,
the lawsuit claims that investors suffered damages.
A class action lawsuit has already been filed. If you wish to serve as lead
plaintiff, you must move the Court no later than March 19, 2019. A lead
plaintiff is a representative party acting on behalf of other class members
in directing the litigation. If you wish to join the litigation, go to
https://www.rosenlegal.com/cases-1493.html or to discuss your rights or
interests regarding this class action, please contact Phillip Kim, Esq. or
Zachary Halper, Esq. of Rosen Law Firm toll-free at 866-767-3653 or via
e-mail at [email protected] or [email protected]
The Schall Law Firm
If you are a shareholder who suffered a loss, click here to participate.
https://schallfirm.com/join-action-form/?slug=activision-blizzard-inc&id=1706
We also encourage you to contact Brian Schall, or Sherin Mahdavian, of the
Schall Law Firm, 1880 Century Park East, Suite 404, Los Angeles, CA 90067, at
424-303-1964, to discuss your rights free of charge. You can also reach us
through the firm’s website at www.schallfirm.com, or by email at
[email protected]
The class, in this case, has not yet been certified, and until certification
occurs, you are not represented by an attorney. If you choose to take no
action, you can remain an absent class member.
According to the Complaint, the Company made false and misleading statements
to the market. Activision Blizzard’s termination of its partnership with
Bungie Inc., which would give full publishing rights for the Destiny gaming
franchise to Bungie, was about to occur. The end of the agreement between the
two Companies was likely to have a considerable negative impact on Activision
Blizzard’s revenues moving forward. Based on these facts, the Company’s
public statements throughout the class period were false and materially
misleading. When the market learned the truth about Activision Blizzard
(ATVI), investors suffered damages.
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簡單來說就是和Bungie分手事件時的內線交易。
各家律師事務所代表投資人提起了聯合訴訟。
這新聞中有兩家事務所的聲明。