Johnson Fistel, LLP Files Class Action Suit against Activision Blizzard, Inc.
SAN DIEGO- PRNewswire —March 6, 2019
Johnson Fistel, LLP announces that it has filed a class action lawsuit on behalf of all those who purchased or otherwise acquired Activision Blizzard, Inc. (“Activision”) (NASDAQ: ATVI) securities between August 2, 2018 and January 10, 2019, both dates inclusive (the “Class Period”). This action was filed in the United States District Court for the Southern District of New York and is captioned Winckler v. Activision Blizzard, Inc., et al., No. 19-cv-02095.
The Private Securities Litigation Reform Act of 1995 permits any investor who purchased or otherwise acquired Activision securities during the Class Period to seek appointment as lead plaintiff. A lead plaintiff acts on behalf of all other class members in directing the litigation. The lead plaintiff can select a law firm of its choice. An investor’s ability to share in any potential future recovery is not dependent upon serving as lead plaintiff.
If you wish to serve as lead plaintiff, you must move the Court no later March 19, 2019. If you wish to discuss this action or have any questions concerning this notice or your rights or interests, please contact Jim Baker (firstname.lastname@example.org) at 619-814-4471. If emailing, please include a phone number. Additionally, you can [click here to join this action]. There is no cost or obligation to you.
The Complaint alleges that throughout the Class Period Defendants made materially false and misleading statements and/or failed to disclose that: (1) the termination of Activision and Bungie’s partnership, giving Bungie full publishing rights and responsibilities for the Destiny franchise, was imminent; (2) the termination of the two companies’ relationship would foreseeably have a significant negative impact on Activision’s revenues; and (3) as a result, Activision’s public statements were materially false and misleading at all relevant times.
On January 10, 2019, Activision and Bungie announced the end of their business relationship. That same day, in an Securities and Exchange Commission filing, Activision stated that Bungie “would assume full publishing rights and responsibilities for the Destiny franchise. Going forward, Bungie will own and develop the franchise.” Following these announcements, the Company’s stock price fell 9.37%, to close at $46.54 on January 11, 2019.
Plaintiff seeks to recover damages on behalf of all those who purchased or otherwise acquired Activision securities during the Class Period. About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized shareholder rights law firm with offices in California, New York, and Georgia. The firm represents individual and institutional investors in shareholder derivative and securities class action lawsuits. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com. Attorney advertising. Past results do not guarantee future outcomes.