SHAREHOLDER ALERT: Activision Blizzard, Inc. (ATVI) Officers and Directors Under Investigation for Possible False Statements and Discrimination
SAN FRANCISCO, Aug. 13, 2021 /PRNewswire/ -- Schubert Jonckheer & Kolbe LLP is investigating potential derivative claims on behalf of shareholders of Activision Blizzard, Inc. (NASDAQ: ATVI) relating to possible false statements to investors regarding its "frat boy" workplace culture and a long-running investigation by the California Department of Fair Employment and Housing ("DFEH").
On July 20, 2021, DFEH sued Activision in Los Angeles County Superior Court for violations of California's Equal Pay Act and the Fair Employment and Housing Act related to allegations that, among other things, the company paid women less than their male counterparts for substantially similar work, subjected women to a culture of "constant" sexual harassment, failed to take reasonable steps to prevent such harassment, and even retaliated against those who complained about it. DFEH described the company's culture as that of a fraternity and claimed that it created a "breeding ground for harassment and discrimination against women." The DFEH investigation took place over a period of more than two years, and the agency noted that the company had received "numerous" complaints by female employees related to their abject treatment under Activision's male-dominated corporate culture. Following DFEH's lawsuit, Blizzard President J. Allen Brack resigned from his position at the company.
The Schubert Firm is investigating potential breaches of fiduciary duty by the company's officers and directors in connection with these allegations.
If you own stock in Activision and wish to obtain additional information about your legal rights, please contact us today or visit our website at https://www.classactionlawyers.com/blog/activision.
About Schubert Jonckheer & Kolbe LLP
Schubert Jonckheer & Kolbe represents shareholders, employees, and consumers in class actions against corporate defendants, as well as shareholders in derivative actions against their officers and directors. The firm is based in San Francisco, and with the help of co-counsel, litigates cases nationwide.
Contact
Alexandra Green
Schubert Jonckheer & Kolbe LLP
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Tel: 415-788-4220
SOURCE Schubert Jonckheer & Kolbe LLP
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