Activision Blizzard, Inc. (NASDAQ: ATVI) Investor Securities Class Action Lawsuit 01/18/2019

If you purchased a significant amount of shares of Activision Blizzard, Inc. (NASDAQ: ATVI) between August 2, 2018 and January 10, 2019, and / or if you purchased any NASDAQ: ATVI shares prior to August 2018 and continue to hold any of those shares, you have certain options and for certain investors are short and strict deadlines running. Deadline: March 19, 2019. NASDAQ: ATVI investors should contact the Shareholders Foundation, Inc.

To have your information reviewed for options and to recieve notifications about this case, please use this form. You may also send an email to mail@shareholdersfoundation.com, or call us at (858) 779-1554.
Company Name(s): 
Activision Blizzard
Case Name: 
Activision Blizzard Shareholder Class Action Lawsuit 01/18/2019
Case Status: 
Lawsuit Filed
Affected Securities
NASDAQ: ATVI
Lawsuit Overview
Type of Lawsuit: 
Shareholder Class Action
Date Filed: 
01/18/2019
Class Period Begin: 
08/02/2018
Class Period End: 
01/10/2019
Court of Filing: 
U.S. District Court for the Central District of California
Deadline To File for Lead: 
03/19/2019
Summary: 

An investor in shares of Activision Blizzard, Inc. (NASDAQ: ATVI) filed a lawsuit in the U.S. District Court for the Central District of California over alleged violations of Federal Securities Laws by Activision Blizzard, Inc. in connection with certain allegedly false and misleading statements made between August 2, 2018 and January 10, 2019.

Santa Monica, CA based Activision Blizzard, Inc. develops and distributes content and services on video game consoles, personal computers (PC), and mobile devices. Activision Blizzard, Inc. reported that its annual Total Revenue rose from over $6.6 billion in 2016 to over $7.01 billion in 2017 and that its Net Income decreased from $966 million in 2016 to $273 million in 2017.

On January 11, 2019, Activision Blizzard, Inc disclosed that it would be separating from its design and development partner Bungie, Inc. ("Bungie") and that Bungie will assume full publishing rights and responsibilities for the Destiny franchise. Bungie had developed the Destiny franchise with Activision as publisher. In the first five days of the Destiny franchise's release, it sold $325M at retail.

Shares of Activision Blizzard, Inc. (NASDAQ: ATVI) declined from $51.49 per share on January 10, 2019 to $44.47 per share on January 11, 2019.

According to the complaint the plaintiff alleges on behalf of purchasers of Activision Blizzard, Inc. (NASDAQ: ATVI) common shares between August 2, 2018 and January 10, 2019, that the defendants violated Federal Securities Laws. More specifically, the plaintiff claims that between August 2, 2018 and January 10, 2019, the Defendants made false and/or misleading statements and/or failed to disclose that the termination of Activision Blizzard and Bungie’s partnership, giving Bungie full publishing rights and responsibilities for the Destinyfranchise, was imminent, that the termination of the two companies’ relationship would foreseeably have a significant negative impact on Activision Blizzard’s revenues, and that as a result, Activision Blizzard’s public statements were materially false and misleading at all relevant times.