Activision Currently Under Investigation for Fraud

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JB2448

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Oct 25, 2017
2,613
Florida
https://www.prnewswire.com/news-releases/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-activision-blizzard-inc---atvi-300777066.html
https://www.marketwatch.com/press-release/shareholder-alert-pomerantz-law-firm-investigates-claims-on-behalf-of-investors-of-activision-blizzard-inc---atvi-2019-01-11
Pomerantz LLP is investigating claims on behalf of investors of Activision Blizzard, Inc. ("Activision" or the "Company") Such investors are advised to contact Robert S. Willoughby at [email protected] or 888-476-6529, ext. 9980.
The investigation concerns whether Activision and certain of its officers and/or directors have engaged in securities fraud or other unlawful business practices.
On January 11, 2019, the Company disclosed that it would be separating from its design and development partner Bungie, Inc. ("Bungie") and that Bungie will assume full publishing rights and responsibilities for the Destiny franchise. Bungie had developed the Destiny franchise with Activision as publisher. In the first five days of the Destiny franchise's release, it sold $325M at retail. Following this announcement, Activision's stock price fell sharply during intraday trading on January 11, 2019.
 

Kiraly

Member
Oct 30, 2017
2,846
Title is a tad misleading.

You can bet your ass some people at Activision sold their stocks prior to the public announcement though.
 

Polyh3dron

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Oct 25, 2017
2,372
Oh so it’s not for tacking on awful MTX bullshit on to Black Ops 4 AFTER people bought it?
 

Komo

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Jan 3, 2019
4,561
Wow fuck that's not good at all. Thankful that Bungie got out of that contract. Tbh wouldn't be surprised if they were the ones who tipped them off.
 

Lagamorph

Member
Oct 26, 2017
4,755
Title is a tad misleading.

You can bet your ass some people at Activision sold their stocks prior to the public announcement though.
How is the title misleading? The article literally says that Activision are under investigation for fraud.

Unless the thread title has changed since it was originally posted?
 
Oct 25, 2017
1,363
A few investors hired a law firm. It’s not “under investigation” as in the government, sec or state agency is investigation.
 

MELLO

Member
Oct 25, 2017
7,671
Cool, I do expect a consumer lawsuit check in my mail for buying destiny and like 10 call of duties
 
Oct 25, 2017
1,363
According to a recent report from Market Watch, a new investigation has kicked off concerning suspected unlawful businesses practices and other types of fraud within their daily operations.
it’s not a “report” it’s literally a press release from the Law Firm posted to MarketWatch. This isn’t even a story it’s literally repeating a Press Release.
 

Kill3r7

Member
Oct 25, 2017
9,838
Wow fuck that's not good at all. Thankful that Bungie got out of that contract. Tbh wouldn't be surprised if they were the ones who tipped them off.
This is a firm that specializes in class action lawsuits. They see an opportunity to make a quick buck. Now if this was an SEC investigation then it might have some merit.
 

Abriael

Banned
Oct 27, 2017
1,605
Milano - Italy
A few investors hired a law firm. It’s not “under investigation” as in the government, sec or state agency is investigation.
it isn't even like this. No one hired them. This is basically a law firm taking the initiative to "investigate" and asking investors to get on the bandwagon (IE: pay them) to try and get money from Activision.

The "press release" is actually a thinly-veiled ad.

Basically, it's the investor equivalent of the lawyer dropping by the hospital to try and convince someone who had an accident to sue.

IE: it's likely irrelevant, and the outlet in question pulled a massively misleading headline that the OP simply reproduced.
 
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Syriel

Member
Dec 13, 2017
6,978
Article and thread are clickbait.

What's the connection to Bungie exactly? I don't see it
Bungie went independent. Activision share price dropped. Law firm hoped to get investors who made a bad get onboard to sue. Then lawyers make money.

Wow fuck that's not good at all. Thankful that Bungie got out of that contract. Tbh wouldn't be surprised if they were the ones who tipped them off.
At least read the linked press release before dropping a hot take.

How is the title misleading? The article literally says that Activision are under investigation for fraud.

Unless the thread title has changed since it was originally posted?
There is no federal investigation. There is no known fraud.

There was a drop in the stock price and now a law firm is looking for easy money with investors who made a bad get.

The only way this would be anything is if there was proof of insider trading and any company the size of Activision is going to have a ban on trading for employees well before financially relevant news is released.

This is a nothingburger that Comicbook.com is hyping up for traffic.
 
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