San Francisco, California, Sep 21, 2021 (Newsfile Corp via COMTEX) -- San Francisco, California--(Newsfile Corp. - September 21, 2021) - Hagens Berman urges Activision Blizzard, Inc. /zigman2/quotes/200717283/composite ATVI +0.38% investors with significant losses to submit your losses now . A securities fraud class action has been filed.
Activision Blizzard, Inc. (ATVI) Securities Fraud Class Action:
The action challenges Defendant's repeated downplaying of Activision Blizzard's liability stemming from certain labor and employment matters, falsely characterizing these proceedings as merely "routine" and "are not significant."
In truth, Defendants actively concealed that: (1) Activision Blizzard discriminated against female and minority employees, (2) the company fostered a "frat boy" workplace culture that continues to thrive, (3) numerous complaints about unlawful harassment, discrimination and retaliation were made to the company's human resources personnel and executives that went unaddressed, and (4) the workplace culture would seriously impair the company's operations.
The truth emerged on July 20, 2021, when the California Department of Fair Employment and Housing ("DFEH") sued Activision Blizzard after a two-year investigation into the company's labor and employment practices. According to DFEH, the company's "frat boy" culture is a breeding ground for harassment and discrimination against female employees, who are subjected to constant sexual harassment, and high ranking executives engaged in sexual harassment without repercussions.
Most recently, on Sept. 20, 2021, Activision Blizzard announced the SEC issued subpoenas to the company and several current and former employees seeking information about the company's disclosures and employment-related conduct.
These events drove the price of Activision Blizzard shares sharply lower.
"We're focused on investors' losses and proving Defendants lied about the seriousness of the company's employment practices," said Reed Kathrein, the Hagens Berman partner leading the investigation.
If you invested in Activision Blizzard, or have knowledge that may assist the firm's investigation, click here to discuss your legal rights with Hagens Berman .
Whistleblowers: Persons with non-public information regarding Activision Blizzard should consider their options to help in the investigation or take advantage of the SEC Whistleblower program. Under the new program, whistleblowers who provide original information may receive rewards totaling up to 30 percent of any successful recovery made by the SEC. For more information, call Reed Kathrein at 844-916-0895 or email ATVI@hbsslaw.com .
# # #
About Hagens Berman
Hagens Berman is a national law firm with eight offices in eight cities around the country and over eighty attorneys. The firm represents investors, whistleblowers, workers and consumers in complex litigation. More about the firm and its successes is located at hbsslaw.com . For the latest news visit our newsroom or follow us on Twitter at @classactionlaw .
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/97179
Is there a problem with this press release? Contact the source provider Comtex at email@example.com. You can also contact MarketWatch Customer Service via our Customer Center.
copyright (c) newsfile corp. 2021. all rights reserved