According to the Complaint, Activision Blizzard, Inc. purports to be one of the world's largest video game publishers.

The Complaint alleges that Defendants throughout the Class Period made false and/or misleading statements and/or failed to disclose that: (1) Activision Blizzard discriminated against women and minority employees; (2) Activision Blizzard fostered a pervasive “frat boy” workplace culture that continues to thrive; (3) numerous complaints about unlawful harassment, discrimination, and retaliation were made to human resources personnel and executives which went unaddressed; (4) the pervasive culture of harassment, discrimination, and retaliation would result in serious impairments to Activision Blizzard’s operations; (5) as a result as a result of the foregoing, the Company was at greater risk of regulatory and legal scrutiny and enforcement, including that which would have a material adverse effect; (6) Activision Blizzard failed to inform shareholders that the California Department of Fair Employment and Housing (“DFEH”) had been investigating Activision Blizzard for harassment and discrimination; and (7) as a result, Defendants’ statements about Activision Blizzard’s business, operations, and prospects were materially false and misleading and/or lacked a reasonable basis at all relevant times.

On November 1, 2021, the Court issued an Order appointing Lead Plaintiff and Counsel. Lead Plaintiff filed an amended Complaint on December 3. Defendants filed a Motion to Dismiss the amended Complaint on January 11, 2022. On April 18, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiff was given leave to amend the Complaint.

On May 18, 2022, Lead Plaintiff filed a second amended Complaint. Defendants filed a Motion to Dismiss the second amended Complaint on June 16. On August 30, the Court issued an Order granting Defendants' Motion to Dismiss. Plaintiff was given leave to amend the Complaint.

On September 29, 2022, Lead Plaintiff filed a third amended Complaint. Defendants filed a Motion to Dismiss the third amended Complaint on October 31. On January 22, 2023, the Court issued an Order granting Defendants' Motion to Dismiss. The case was dismissed with prejudice.

Plaintiffs filed a notice appealing the Court's Dismissal Order on February 17, 2023. On January 19, 2024, the Court of Appeals affirmed the District Court's Dismissal.