Blizzard Employees File a Second Lawsuit

The class-action lawsuit filed in the Central District of California on behalf of investors alleges that Activision Blizzard’s deliberate failure to disclose its current issues with sexual harassment and discrimination artificially inflated the company’s stock prices. This is the second lawsuit, filed two weeks after the first one. The plaintiffs claim that if investors had known the extent of Activision Blizzard’s problems, they would not have invested in the company’s stocks.

Activision Blizzard’s stock prices have been slowly declining since June 21 when news broke that the California Department of Fair Employment and Housing had filed a lawsuit against the company over a corporate culture that had fostered years of mistreatment and discrimination against female employees.

The lawsuit, which encompasses anyone who traded Activision Blizzard securities from August 4, 2016, through July 27, 2021, seeks damages based on violations of federal securities laws by the defendants.