Activision Blizzard stock drops as employees decry response to sexual harassment lawsuit

1 month ago 16
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Activision Blizzard Inc. ATVI, -7.03% shares dropped Tuesday following reports that many employees disagree with the company’s response to a California lawsuit alleging sexual discrimination and harassment at the videogame publisher. Activision Blizzard shares fell more than 7% in Tuesday trading. Last week, the California Department of Fair Employment and Housing filed a civil suit against Activision Blizzard alleging that female employees were subject to discrimination over pay and promotions as well as subjected to sexual harassment. Following that, Activision released a statement that the suit contained  “distorted, and in many cases false descriptions of Blizzard’s past.” According to media reports, more than 2,000 current and former employees have signed a letter decrying the company’s response to the lawsuit. On Twitter, World of Warcraft Senior System Designer Jeff Hamilton said that “almost no work” is being done on the game as a result of the controversy. Activision Blizzard has yet to respond to MarketWatch’s request for comment on the petition.

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