NEW ORLEANS--(BUSINESS WIRE)--Kahn Swick & Foti, LLC (“KSF”) and KSF partner, former Attorney General of Louisiana, Charles C. Foti, Jr., remind investors that they have until October 4, 2021 to file lead plaintiff applications in a securities class action lawsuit against Activision Blizzard, Inc. (NasdaqGS: ATVI), if they purchased the Company’s securities between August 4, 2016 and July 27, 2021, inclusive (the “Class Period”). This action is pending in the United States District Court for the Central District of California.
What You May Do
If you purchased securities of Activision Blizzard and would like to discuss your legal rights and how this case might affect you and your right to recover for your economic loss, you may, without obligation or cost to you, contact KSF Managing Partner Lewis Kahn toll-free at 1-877-515-1850 or via email (lewis.kahn@ksfcounsel.com), or visit https://www.ksfcounsel.com/cases/nasdaqgs-atvi/ to learn more. If you wish to serve as a lead plaintiff in this class action, you must petition the Court by October 4, 2021.
About the Lawsuit
Activision Blizzard and certain of its executives are charged with failing to disclose material information during the Class Period, violating federal securities laws.
On July 20, 2021, the California Department of Fair Employment and Housing filed a lawsuit against the Company alleging violations of the state’s Equal Pay Act as well as the Fair Employment and Housing Act based on disturbing incidents of sexual harassment and assault. On July 27, 2021, Bloomberg reported that thousands of current and former employees of the Company had signed a petition in protest of the Company’s “abhorrent and insulting” response to the lawsuit and had planned walkout and work stoppage the following day, resulting in the Company’s CEO sending a letter to employees apologizing for the Company’s “tone deaf” response to the DFEH lawsuit and promising “swift action to be [. . .] compassionate[,] caring [and] to ensure a safe environment.”
On this news, shares of Activision fell $5.89, or over 6%, to close at $84.05 on July 27, 2021, on unusually heavy trading volume.
The case is Cheng v. Activision Blizzard, Inc., et al., No. 1:21-cv-06240.
About Kahn Swick & Foti, LLC
KSF, whose partners include former Louisiana Attorney General Charles C. Foti, Jr., is one of the nation’s premier boutique securities litigation law firms. KSF serves a variety of clients – including public institutional investors, hedge funds, money managers and retail investors – in seeking to recover investment losses due to corporate fraud and malfeasance by publicly traded companies. KSF has offices in New York, California and Louisiana.
To learn more about KSF, you may visit www.ksfcounsel.com.
