Activision investors join forces to demand Kotick be removed.
Continue reading “Activision Investors Demand Kotick’s Firing”
Tag: Investigation
Activision Now Faces Federal Investigation
The Securities and Exchange Commission enters the fight.
Continue reading “Activision Now Faces Federal Investigation”
Funcom Fined For 2011-2012 Irregularities
It’s been a while since we last reported on the allegations that Funcom breached disclosure requirements and misled investors in the months leading up to the launch of The Secret World, and the results of said investigation are finally in. Following a raid on the offices in January of last year, Funcom yesterday announced that it has accepted a fine of 1.5 million NOK from the Norwegian National Authority for Investigation and Prosecution of Economic and Environmental Crime. The fine relates to market manipulation and lists of persons who have access to insider information.
The announcement does not mention anything specifically about ex-CEO Tron Aas, who is under investigation for offloading stocks just before the launch of The Secret World, leading many to speculate that he knew that the game would not be initially well received.
(Source: Funcom)
Law Firm Investigating PWE Privatization
The recent announcement that Perfect World Co. is going private has sparked an investigation by the Levi & Korsinsky law firm. In a shareholder alert sent out alongside the announcement last week, the firm confirmed that it is looking into the fairness of the sale.
Perfect World Co. is set to go private in the second half of this year, in a $900 million acquisition that will see ownership transfer over to Mr. Michael Yufeng Chi. Shareholders are expected to receive $4.04 in compensation for standard shares, a 28% increase over the price as of December 31, 2014.
Persons or entities that purchased Perfect World stock before April 26, 2015, can get in contact by phone or email at no cost to themselves.
(Source: Shareholder Alert)
Diablo III Under Investigation In France, Germany, South Korea
Those of you paying attention here at MMO Fallout know from a previous article that Blizzard is currently under investigation by the South Korean Fair Trade Commission over complaints that Blizzard did not deliver on service for Diablo III players, and refused to offer refunds for those who could not access the game due to consistent server downtime. Blizzard’s offices were raided and the investigation is currently ongoing, but likely to end up in favor of the consumer.
In France, Blizzard was given 15 days by the consumer bureau to fix connections regarding Diablo III, an issue which still plagues the game in every continent. They are also asking Blizzard to compensate players for damages accrued due to downtime, and are requesting a formal investigation into the use of always-on DRM. If the server stability is not met, the consumer bureau intends on taking Blizzard to court.
In Germany, however, the issue is a little different. The Federation of German Consumer Organizations has stated that Blizzard is being held accountable for anti-trust violations. Diablo III is being investigated for not disclosing on boxes that the game required an internet connection to play in single player, as well as not disclosing that the game was unable to be resold due to the permanent connection with one’s battle.net account. Or if you want to use the original German translation, Blizzard are being investigated for Wettbewerbsverstöße abzugeben, which sounds a whole lot more threatening.
Granted, neither of the French or German groups have the power to impose punishments on Blizzard, they will have to take the company to court and have a judge hand down a verdict.
(Source: Incgamers)
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