Activision’s motion to dismiss a class-action lawsuit filed by investors who asserted the company misled them about sexual harassment allegations at the company, including probes by the Equal Employment Opportunity Commission and California’s Department of Fair Employment and Housing . First, the judge ruled that the plaintiffs failed to meet the threshold to pursue their claims under federal securities law.
First filed in August 2021 by a group of individual investors that includes Jeff Ross and Gary Cheng, they allege the EEOC and DFEH probes were intentionally downplayed by Activision in SEC filings, which calling them “routine”. But the judge argued these investors' claims to be an example of “,” wherein companies which suffer bad outcomes are unfairly accused of having been able to predict them.
“Plaintiffs contend that the media’s reaction to news of the regulatory investigations and Defendants’ statement in response to the DFEH Action 'belies any notion' that the regulatory investigations were ordinary or routine. But such allegations constitute 'fraud-by-hindsight' and absent particularized, temporal facts, are insufficient to support a claim of securities fraud,” wrote Judge Percy Anderson of the US District Court of the Central District of California.
Good thing I read the article. I thought this tweet said that the CA sexual harassment probe turned lawsuit was thrown out! Glad to know that’s still going on.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Who is Judge Kathryn Kimball Mizelle, the federal judge who blocked Biden's travel mask mandate?A little-known federal judge appointed by former President Donald Trump found herself in the national spotlight on Monday after striking down the Biden administration's public transportation mask mandate. she’s going places! and making millions of americans happy while they’re going places in planes! She is a great judge helping us move forward from this pandemic. 💢🤷🏻♂️👇🏼💢
Source: CNN - 🏆 4. / 95 Read more »
Cheers, fear as federal judge strikes down US mask mandates for travelThe major airlines and busiest airports rushed to drop their requirements, but many sided with the CDC in recommending that people be voluntarily masked. Nothing that happened yesterday restricts anybody's ability to voluntarily mask. Knock yourself out. Wear all the masks you want. Go ahead. Just leave everybody else alone.
Source: FOX10Phoenix - 🏆 83. / 68 Read more »
Georgia judge allows suit challenging Marjorie Taylor Greene's reelection bid to proceedA federal judge on Monday paved the way for an effort to disqualify GOP Rep. Marjorie Taylor Greene of Georgia from running for reelection over her role in the January 6 assault on the U.S. Capitol to proceed. Marjorie Taylor Greene ran unopposed in her last election. That's how America ended up with this loose cannon. Hopefully she loses her reelection bid in 2022--what a blessing that would be. Now that’s politics!
Source: CBSNews - 🏆 87. / 68 Read more »
Judge Tells Amazon to Rehire Previously Fired Employee, Give Him Lost WagesThe former Staten Island warehouse worker was fired during early Covid-19 protests over claims Amazon wasn't keeping a clean house.
Source: Gizmodo - 🏆 556. / 51 Read more »
Federal judge voids travel-related mask mandate'A federal judge in Florida struck down the national mask mandate covering airlines and other public transportation Monday, and the Biden administration said the rule would not be enforced while federal agencies decide how to respond to the judge’s order.'
Source: WTVYNews4 - 🏆 590. / 51 Read more »