Activision Blizzard Strikes Out the Investor Lawsuit
Judge Percy Anderson was on the case June 19, tossing the shareholder complaint into the recycling bin. The argument? The plaintiffs couldn’t name any concrete lie the game makers told investors about alleged sexism and harassment.
What’s the Bottom Line?
- Shareholders dropped the “fraud” flag but didn’t pin specific false statements.
- Activision claims it never mistreated women or misled investors.
- Judge demanded an amended complaint within 30 days if plaintiffs still want a shot.
Anderson noted the complaint felt like a long, winding monologue—just scrolling through other lawsuit excerpts without a clear accusation that the executives purposely lied.
Bigcase: Microsoft Buys Activision
In January, Microsoft agreed to buy the “Call of Duty” titan for a cool $68.7 bn (Singapore dollars 94 bn). That move just triggered the U.S. Federal Trade Commission’s antitrust review, so hold your breath.
The Legal Storm Before the Verdict
- EEOC and a California anti‑discrimination bureau sued in 2023, claiming widespread bias.
- SEC is sniffing around disclosures on workplace misconduct.
- Activision settled the EEOC case for $18 m last month—good news for them.
- California’s lawsuit still pending.
Shareholders’ Accusations
In August, the shareholders filed a class action crediting the company’s alleged “non‑disclosure” of discrimination as a stock value boost. Activision stock plummeted last year after SEC probes and out‑of‑court allegations surfaced.
What’s Next?
Now the court watches whether the plaintiffs will revamp their complaint. Stay tuned for any drama—databases hold a lot of stories, and the next comic‑like twist is always around the corner.
