SAN DIEGO, March 6, 2019 /PRNewswire/ -- 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 (jimb@johnsonfistel.com) 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
jimb@johnsonfistel.com
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SOURCE Johnson Fistel, LLP