As a casual stock investor, I purchased some shares of ATVI late last year. The company has performed very poorly since then. I'm now being inundated with announcements of class actions lawsuits against ATVI and invitations to "join."
All the lawsuit announcements look basically the same -- almost identical wording and eligible share purchase date ranges, but the law firm names are different on each one.
Just how many lawsuits actually exist here? It appears that half a dozen law firms are each filing separate suits on behalf of the same class. If so, will these suits be combined? It seems logically problematic that the same class of people could sue a defendant multiple times under different law firms.
Also, the "invitation to join" forms are confusing. They talk about claimed losses, but also about being "lead plaintiff." Will each firm select a single lead plaintiff, or is "lead plaintiff" a group of people? Is this a competition to be lead plaintiff?
Even if the lead plaintiff is a single person in each case, what happens if/when they are combined? Does it become A and B and C and D vs Activision Blizzard, Inc? Do all the law firms have to work together at that point?