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Press release: Pomerantz Law Firm Investigates Claims On Behalf of Investors of Activision Blizzard, Inc
- Thread starter Okabe
- Start date
It's the only thing I could see. That the investors think the Bungie deal was a big enough financial thing that it should have been brought to their attention before Activision separated from it.
Yeah, even though it was "below expectations" it was still a significant enough of a chunk that profit is only going to be down year on year, with all of their games coming out this ye-- BWAHAHA I can't finish that sentence.
Actually, business changing events like this is something you do not want to disclose publicly before they happen.
One reason for this is, if such a plan is announced or people inside the company get wind of it, that would open up the potential of insider trading even more.
So when such a big thing is about to be done, the people that know about it and are in charge of it, have their accounts frozen so that they cannot sell anything, in order to make sure that they truly stick to the decisions they're about to make.
Which is also another reason why investors, regular employees, and the general public find out about this pretty much at the same time, to reduce the risk of insider trading.
That is, that's how it is supposed to be done, to protect the company. Obviously I've no insight in how this was handled. :)
One reason for this is, if such a plan is announced or people inside the company get wind of it, that would open up the potential of insider trading even more.
So when such a big thing is about to be done, the people that know about it and are in charge of it, have their accounts frozen so that they cannot sell anything, in order to make sure that they truly stick to the decisions they're about to make.
Which is also another reason why investors, regular employees, and the general public find out about this pretty much at the same time, to reduce the risk of insider trading.
That is, that's how it is supposed to be done, to protect the company. Obviously I've no insight in how this was handled. :)
I guess to ask to what end? Maybe the arrangement details should have been made known to investors (the terms of Bungie/Activision-Blizz arrangement) but the outcome of stocks falling would have been the same either way no? Or are they saying larger stock holders should have been told, and smaller ones left out to dry?
I guess I just don't see what difference it would have made.
The hell is happening with Activision as of late. It feels like it's bad news after bad news for them.
I want to believe this is karma coming back for Bobby Kotick
The Pomegranates are actually already getting to Activision, as recent live footage from a private meeting shows (someone should probably edit Bobby Kotick's half transparent reflection of his face onto the seeds, but I'm waaaay too lazy)
I'm sure that could have potentially led to insider trading. A company as big as activision probably gets sued or investigated on a regular basis.
OP
OP
Part of it is overreaction, their stock slide is because of a bear market, the further fluctuation is just them dealing with repercussions of misreading the market. They thought they could milk the market way more than it can handle.
We calling press releases "articles" now?
There is no argument. OP posted an ad as "news."
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.
Seriously.
I work for a publicly traded company, and part of being a publicly traded company is keeping information secret until such a time that it can official announcements can be made to the public. Telling investors "Yeah, Bungie is about to get out of their contract" is asking for bad shit to happen.
I wonder if this is something the SEC would investigate if they weren't almost completely shut down right now.
"Why didn't these assholes give us inside information so we could sell our shit ahead of time?!"
.
Yes, this is correct, so I would hope they are coming at this for a different legal reason.
No. Without a shred of evidence of wrongdoing, the SEC isn't going to bother. Stocks drop in value all the time.
This is the investor version of an ambulance chasing lawyer. Unless they can state a cause of action, this is nothing.
Their shareholders don't ever seem satisfied with what they make (despite it being a fuckton), so they are seemingly cutting a lot of the fat to make as much as they possibly can.
It's not even clear from the press release whether the firm has any clients on board for this investigation or not.
The only thing I can think of that would stick here is if investors sued because they felt Activision wasn't working in the best interests of their shareholders when they separated from Bungie and let them have the Destiny IP. I don't know what the legal test for that would be, though.
The only thing I can think of that would stick here is if investors sued because they felt Activision wasn't working in the best interests of their shareholders when they separated from Bungie and let them have the Destiny IP. I don't know what the legal test for that would be, though.
someone ask them to pay $99.99 best value to stop the bad news but they refused to pay it
1) There's no lawsuit. It's the announcement for an investigation into any alleged misconduct that may lead to a lawsuit. This doesn't mean Activision Blizzard is being sued or that they're in trouble.
2) As far as game development and publishing goes, these guys represent the bad guys, the public investors and shareholders who require consistent and unsustainable year over year growth at the cost of burning out good IPs and developers. If you subscribe to Jim Sterling then the people served by this law firm are your real villains, not the corporate suits at Activision Blizzard.
2) As far as game development and publishing goes, these guys represent the bad guys, the public investors and shareholders who require consistent and unsustainable year over year growth at the cost of burning out good IPs and developers. If you subscribe to Jim Sterling then the people served by this law firm are your real villains, not the corporate suits at Activision Blizzard.
So this is like the Spectre organisation and Mads Mikkelsen is like Bobby?