Activision (ATVI) Files $400M Lawsuit Against Electronic Arts (ERTS)
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Activision Blizzard, Inc. (Nasdaq: ATVI) has filed a $400 million lawsuit against Electronic Arts (NYSE: EA), reports have stated late yesterday, and early this morning.
The AP said that the suit was filed in the Los Angeles Superior Court.
The complaint alleges that "EA intentionally interfered with contracts, engaged in unfair competition and aided and abetted breaches of fiduciary duty by the executives."
The executives in question are Jason West and Vince Zampella, who initially sued Activision for $36 million, claiming that they were fired to avoid being paid royalties for Activision's wildly popular "Call of Duty" franchise.
No word yet from either company on the suit. Shares of ATVI are up about 2% on strong volume premarket today, and ERTS is relatively flat.
The AP said that the suit was filed in the Los Angeles Superior Court.
The complaint alleges that "EA intentionally interfered with contracts, engaged in unfair competition and aided and abetted breaches of fiduciary duty by the executives."
The executives in question are Jason West and Vince Zampella, who initially sued Activision for $36 million, claiming that they were fired to avoid being paid royalties for Activision's wildly popular "Call of Duty" franchise.
No word yet from either company on the suit. Shares of ATVI are up about 2% on strong volume premarket today, and ERTS is relatively flat.
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