Activision Blizzard, Inc.

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 ([email protected]) 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.

Contact:
Johnson Fistel, LLP
Jim Baker, 619-814-4471
[email protected]

  • Plaintiff certifies that:
    • 1. Plaintiff did not acquire the security that is the subject of this action at the direction of plaintiff's counsel or in order to participate in this private action or any other litigation under the federal or state securities laws.
    • 2. Plaintiff is willing to serve as a representative party, including providing testimony at deposition and trial, if necessary.
    • 3. Plaintiff represents and warrants that he/she/it is fully authorized to enter into and execute this certification.
    • 4. If a class action is filed, Plaintiff will not accept any payment for serving as a representative party on behalf of a class beyond the Plaintiff's pro rata share of any recovery, except such reasonable costs and expenses (including lost wages) directly relating to the representation of the class as ordered or approved by the court.
    • 5. For purposes of a class action, Plaintiff has made no transaction(s) during the Class Period in the debt or equity securities that are the subject of this action except those set forth below:
  • Acquisitions (include: date shares were acquired, number of shares acquired, and acquisition price per share. Separate each item with a comma. For multiple acquisitions, separate each acquisition with a new line):
  • Sales (include: date shares were sold, number of shares sold, and selling price per share. Separate each item with a comma. For multiple sales, separate each sale with a new line.):
  • During the three years prior to the date of this certification, Plaintiff has not sought to serve or be served as a representative party for a class in an action filed under the federal securities law except if detailed below:

Click to view Retention Agreement