Earlier this year we found out that Bungie was splitting with Activision and self-publishing, and while it seems like the deal was mutually beneficial for both parties, a new Loss Submission Form has been discovered by GamesIndustry.biz in which a law firm is filing a class action lawsuit against Activision Blizzard.
This lawsuit is on behalf of the shareholders, and this is what the firm - Kuznicki Law PLLC - claims:
"The filed complaint alleges that defendants made materially false and/or misleading statements and/or failed to disclose that: (i) the termination of Activision Blizzard and Bungie's partnership, giving Bungie full publishing rights and responsibilities for the Destiny franchise, was imminent; (ii) the termination of the two companies' relationship would foreseeably have a significant negative impact on Activision Blizzard's revenues; and (iii) as a result, Activision Blizzard's public statements were materially false and misleading at all relevant times."
A form on the site encourages shareholders to join them if they bought shares between August 2 last year and January 10 this year, and they have until March 19 to request that the court appoint them lead plaintiff.
Only yesterday we reported that Activision recognised $164 million in revenue from Bungie split, and the split was a result of the franchise "not meeting our expectations". Only time will tell if this lawsuit gathers momentum though.
