Like we said, lots happened overnight.
Activision Blizzard now faces a second lawsuit over allegations of a toxic workplace, with law firm Rosen Law filing a class action lawsuit on behalf of investors who traded in the publisher’s securities between 2016 and 2021.
The lawsuit represents investors who traded between the period of 4 August and 27 July 2021 specifically and “seeks to recover damages for Activision Blizzard investors under the federal securities laws.”
The lawsuit alleges that Activision Blizzard purposefully failed to disclose issues of harrassment and discrimination to shareholders, and as a result “Defendants’ statements about Activision Blizzard’s business, operations, and prospects, were materially false and misleading and/or lacked a reasonable basis at all relevant times. When the true details entered the market, the lawsuit claims that investors suffered damages.”
News of the lawsuit comes at the same time Activision Blizzard has confirmed that both Blizzard head J. Allen Brack and head of Senior Vice President and Senior People Officer Jesse Meschuk have left the company. This followed the news of a lawsuit filed by the Californian Department of Fair Employment and Housing in which Brack is specifically named and after a walkout by Activision Blizzard staff in protest of a toxic workplace culture.
We’ll keep you informed as the situation progresses.
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