Activision Blizzard's ruling class was probably expecting a pretty quiet summer, but karma – you might say – dictated otherwise. Already under the influence of a complaint from the employment agency of the State of California, the company is now being sued by certain shareholders who consider themselves cheated.
The complaint, which could in the coming days be reclassified as a class action, alleges that Activision Blizzard failed in its duty by failing to disclose that it had been under investigation for two years for multiple reports of harassment, of discrimination and, more generally, for its "toxic corporate culture".
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Meanwhile, the stock price goes up
Believing to have offered shares in a company that has overestimated itself, Activision Blizzard shareholders who have filed a complaint hope to obtain compensation. “If the plaintiffs had known that the price of Activision Blizzard securities had been artificially and falsely inflated by misleading statements […], they would not have bought any,” summarizes the law firm Rosen Law Firm in the complaint. which was filed yesterday in the Central Court of California.
But the fact remains that, despite the tumult and a stock that fell by almost 6% the day that Activision Blizzard employees organized a strike in front of their premises, investors seem rather satisfied with the results of the company, which nothing less than a record quarter − financially speaking.
During yesterday's quarterly conference call, Activision Blizzard reported revenue of 1,9 billion euros, operating profit of 808,3 million euros and net profit of 738,3 .XNUMX million euros. Figures up sharply compared to the same period last year, and which suggests a new record year for the company.
Since then, Activision Blizzard's share price has skyrocketed to close at $84,70. A level equivalent to that of July 27, the day of the publication of an open letter signed by more than 2 employees of the company.
Via : PC Gamer
