Activision Blizzard faces an investor lawsuit stemming from its discrimination case

A harassment and discrimination lawsuit from the California Department of Fair Employment and Housing (DFEH) isn’t the one authorized battle Activision Blizzard has to fret about anymore. Ahead of the corporate’s Q2 earnings name on Tuesday, a agency referred to as Rosen Law filed a class-action lawsuit on behalf of buyers who traded in Activision Blizzard securities between August 4th, 2016 and July twenty seventh, 2021.

The agency, the identical one which’s behind a similar lawsuit against CD Projekt RED over the disastrous launch of Cyberpunk 2077, accuses Activision Blizzard of deliberately failing to reveal its ongoing issues with sexual harassment and discrimination. In doing so, Rosen Law alleges the corporate put itself at better threat of regulatory authorized scrutiny and enforcement. The swimsuit names Activision Blizzard CEO Bobby Kotick, in addition to a number of different executives, as defendants and seeks to recuperate damages for buyers beneath federal securities legal guidelines.

The swimsuit comes on the identical day the corporate introduced J. Allen Brack was “stepping down” from his position as president of Blizzard Entertainment. In its lawsuit, the State of California accuses Brack of taking “no effective remedial measures” to curb the “bro culture” that enabled people like Alex Afrasiabi to harass the corporate’s feminine staff. Taking his place are Jen Oneal and former Xbox executive Mike Ybarra, who will oversee the studio as co-leaders.

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