Things are getting worse Activision BlizzardShareholders are now arguing that because company executives deliberately concealed information about sexual harassment lawsuits, they were “economically harmed.”
The new class action lawsuit was filed after a two-year investigation in California, and a lawsuit has been filed in California Federal Court by the Los Angeles Lawson Law Firm, which claims to be the best law firm in the United States. It involves “the number of securities class action settlements” (through Bloomberg law).
The class action lawsuit specifically lists Activision Blizzard CEO Bobby Kotic, current CFO Dennis Dekin, and former CFO Spence Neuman as “aware or recklessly ignoring the false and undisclosed information about the company. Misleading statements” executives.
The complaint also stated that the statements contained in Activision Blizzard’s unaudited quarterly documents were “seriously false” after reflection due to what we saw in the California DFEH lawsuit.
The complaint even mentioned events that occurred after the lawsuit was filed. Employees plan to strike to support the lawsuit and protest the current leadership and Activision Blizzard’s comments.
“Due to the defendant’s wrong actions and omissions, as well as the sharp decline in the company’s general stock market value, the plaintiff and other class members suffered heavy losses and damages,” the new lawsuit reads.
Blizzard President J. Allen Brack has left the company, leaving Jen Oneal and Mike Ybarra to lead Blizzard. Activision Blizzard also confirmed that human resources director Jesse Meschuk (who has been with the company for 12 years) also left this week.
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