Activision Blizzard has won the dismissal of a lawsuit accusing it of misleading investors by downplaying the severity of alleged sexual harassment and discrimination against female employees.
Los Angeles-based US District Judge Percy Anderson, in a decision released on Tuesday, found that a group of Activision shareholders had failed to cite specific false statements the company made amid investigations by three government agencies, and could not prove fraud claims.
Anderson gave the plaintiffs 30 days to file an amended complaint against Activision, which has denied tolerating discrimination and misleading shareholders.Anderson in his ruling said the plaintiffs failed to allege that Activision and its executives knowingly made specific false statements about the discrimination claims, writing that the complaint was “wieldy in the extreme and rambles through long stretches of material quoted from external lawsuits.
Microsoft in January said it is buying the maker of “Call of Duty” and other games for $68.7 billion.
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