GlobeNewswire Inc | Aug 12, 2021 12:16PM EDT

August 12, 2021

NEW YORK, Aug. 12, 2021 (GLOBE NEWSWIRE) -- Gainey McKenna & Egleston announces that a class action lawsuit has been filed against Activision Blizzard Inc. (Activision or the Company) (NASDAQ: ATVI) in the United States District Court for the Central District of California on behalf of those who purchased or otherwise acquired Activision publicly traded securities between August 4, 2016 through July 27, 2021, inclusive (the Class Period).

The Complaint alleges that the Company discriminated against both women and minorities employed by its organization. Numerous employee complaints of sexual harassment, retaliation, and other inappropriate activities were reported to human resources and executives, but unaddressed. The Company also failed to inform investors that it was under investigation by the California Department of Fair Employment and Housing (DFEH) over allegations of sexual harassment and other discrimination. Finally, in July 2021, Bloomberg Law revealed that DFEH had filed a lawsuit against Activision following a lengthy two-year investigation into the Companys practices. Based on these facts, Activisions public statements were false and materially misleading during the Class Period.

On this news, the price of Activision shares fell $5.89 per share to close at $84.95 per share on July 27, 2021, thereby injuring investors.

Investors who purchased or otherwise acquired shares of Activision during the Class Period should contact the Firm prior to the October 4, 2021 lead plaintiff motion deadline. A lead plaintiff is a representative party acting on behalf of other class members in directing the litigation. If you wish to discuss your rights or interests regarding this class action, please contact Thomas J. McKenna, Esq. or Gregory M. Egleston, Esq. of Gainey McKenna & Egleston at (212) 983-1300, or via e-mail at tjmckenna@gme-law.com or gegleston@gme-law.com.

Please visit our website at http://www.gme-law.com for more information about the firm.