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Activision Blizzard To Pay $54 Million To Settle California State Workplace Discrimination Claims

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(LOS ANGELES) – Activision Blizzard has agreed to pay $54 million to settle discrimination claims made by California’s civil rights agency on behalf of the video game company’s female employees.

The settlement, which is subject to court approval, resolves allegations that the maker of Call of Duty, Overwatch, World of Warcraft, and other video games “discriminated against women at the company, including denying promotion opportunities and paying them less than men for doing substantially similar work,” according to the California Civil Rights Department, which announced the agreement late Friday.

Allegations of employment discrimination aided Activision’s stock price decline in 2021, laying the path for Microsoft’s eventual takeover attempt in January 2022.

Activision Blizzard To Pay $54 Million To Settle California State Workplace Discrimination Claims

The software behemoth, which controls the Xbox gaming system, completed its $69 billion acquisition of Activision in October after overcoming global objections from antitrust regulators and competitors.

In July 2021, California’s civil rights agency filed a lawsuit against Santa Monica-based Activision Blizzard, alleging that female employees were subjected to constant sexual harassment, that few women were named to leadership positions, and that when they were, they earned less salary, incentive pay, and total compensation than male peers.

Employees spoke out against harassment and discrimination, signing petitions and staging a walkout to criticize the company’s defensive response to the case.

Women who worked for the company as hires or independent contractors between Oct. 12, 2015, and Dec. 31, 2020, may be eligible for compensation under the settlement terms.

According to the state agency, $45.75 million of the settlement amount has been put aside for such payments.

Activision Blizzard has promised to implement “fair pay and promotion practices” within the corporation.

“We recognize the significance of the issues addressed in this agreement and are committed to fully implementing all of the new obligations we have assumed as a result of it,” Activision Blizzard said in a statement Saturday.

The corporation also stated that the California Civil Rights Department agreed to file an updated complaint that removes the charges of sexual harassment.

According to the settlement agreement, “no court or any independent investigation has substantiated any allegations” of systemic or widespread sexual harassment at Activision Blizzard, as well as claims that the company’s board of directors and CEO acted improperly or ignored or tolerated a culture of harassment, retaliation, or discrimination.

Activision settled sexual harassment and discrimination charges brought by the United States Equal Employment Opportunity Commission in September 2021, agreeing to establish a $18 million fund to compensate those who were harassed or discriminated against.

Earlier this year, the business agreed to pay $35 million to settle Securities and Exchange Commission claims that it failed to maintain procedures to collect and evaluate workplace concerns regarding disclosure obligations and violated a federal whistleblower protection law.

Activision Blizzard To Pay $54 Million To Settle California State Workplace Discrimination Claims

Activision paid the settlement without admitting or denying the SEC’s conclusions and consented to a cease-and-desist order.

Activision is a prominent video game company known for developing popular franchises such as Call of Duty, World of Warcraft, and Overwatch.

The company was founded in 1979 and has since become a major player in the gaming industry, releasing successful titles across various platforms.

With a focus on creating engaging and immersive gaming experiences, Activision continues to be a leading force in the world of interactive entertainment.

SOURCE – (AP)

Kiara Grace is a staff writer at VORNews, a reputable online publication. Her writing focuses on technology trends, particularly in the realm of consumer electronics and software. With a keen eye for detail and a knack for breaking down complex topics.

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Walmart Charged With Unlawfully Establishing Bank Accounts for 1 Million Drivers

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Photo: Reuters

(VOR News) – The Consumer Financial Protection Bureau (CFPB) filed a lawsuit against Walmart and a fintech company called Branch Messenger, alleging that the two companies forced more than a million delivery workers to use costly bank accounts to receive their paychecks. Both of these companies were the targets of the lawsuit.

According to the action filed by the Consumer Financial Protection Bureau (CFPB), Walmart and Branch are accused of opening deposit accounts for Walmart’s Spark Drivers, who are considered independent contractors, without first getting their consent.

These bank accounts contained drivers’ personal data, including their Social Security numbers.

The lawsuit specifically claims that Walmart’s drivers, who are in charge of delivering goods from the company’s warehouses to consumers, are only allowed to have their earnings transferred into these branch accounts.

This goes against the company’s rules, which permit them to move their earnings to different accounts.

Walmart reportedly told employees in 2021 that using these accounts may lead to firing.

Additionally, the lawsuit claimed that accessing profits through the accounts was a “complex process,” typically causing weeks-long delays. Among the other accusations that were made was this one.

This was the predicament they ultimately found themselves in, even though the business had assured them that they would have prompt access to funds.

To make matters worse, according to the Consumer Financial Protection Bureau (CFPB), drivers allegedly paid ten million dollars in “junk fees” to move their earnings to different bank accounts.

Director of the Consumer Financial Protection Bureau (CFPB), Rohit Chopra, said, “Companies cannot force workers into getting paid through accounts that drain their earnings with junk fees,” in his criticism of the practice. “Junk fees are a waste of money.”

This case’s next section outlined the traits of the average Spark Driver: “in addition to being a woman, having children, not having a college degree, and having a low income.”

Walmart denied the accusations made by the Consumer Financial Protection Bureau (CFPB) and stated in a statement that it will firmly defend itself in court.

Walmart released a statement claiming that the Consumer Financial Protection Bureau’s (CFPB) hurried lawsuit is full of factual errors, exaggerations, and blatant misrepresentations of basic legal principles.

The Consumer Financial Protection Bureau (CFPB) never gave Walmart a chance to make its case in an unbiased way throughout its rushed probe. In contrast to the Consumer Financial Protection Bureau, we are ready to fiercely defend the Company before a court that respects the due process of law principle.

Additionally, Branch was charged by the Consumer Financial Protection Bureau (CFPB) with engaging in deceptive advertising and neglecting to look into and address issues pertaining to the accounts. In addition to earlier accusations, these were also made.

In contrast, Branch denied the accusations and defended its services, saying, “The Consumer Financial Protection Bureau rushed to file a lawsuit despite the company’s extensive cooperation with its investigation, refusing to engage with Branch in any meaningful way about this matter.”

Branch responded to the Walmart accusations with a statement.

Furthermore, Branch claimed that the case was motivated more by a desire for “media attention” than by concerns for the welfare of the employees. This is what he stated in his statement.

This case, which is part of a larger campaign to give these gig workers more rights, targets these individuals who work for firms like Uber, Lyft, and DoorDash who are supposed to be independent contractors. It is considered that gig workers are independent contractors.

Earlier this month, the Consumer Financial Protection Bureau (CFPB) made claims against large financial firms, including Wells Fargo, Bank of America, and JPMorgan Chase.

According to the CFPB, these organizations did not stop fraud on the money-sending app Zelle, which is a platform that lets people send and receive money.

The choice of a new director may have an impact on the outcome of this lawsuit because President-elect Donald Trump is expected to choose a replacement for the present director of the Consumer Financial Protection Bureau (CFPB).

When Jaret Seiberg was employed as a financial services policy analyst at TD Cowen Washington Research Group, she noted that the new director’s strategy for handling such matters would be the deciding element in the case’s future course.

SOURCE: TN

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Deal With Mexican Retailer, Nordstrom’s Founding Family Takes Nordstrom Private.

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Deal With Mexican Retailer, Nordstrom’s Founding Family Takes Nordstrom Private.

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Scott Olson | Getty Images

(VOR News) – The company made the news on Monday that it would transition into a private Nordstrom corporation after the conclusion of a buyout agreement with El Puerto de Liverpool, a Mexican department store, and the founding family of Nordstrom.

The arrangement was reached when the company acquired El Puerto de Liverpool. It is projected that the transaction will end up valued at around $6.25 billion.

The company’s board of directors came to a resolution that was unanimous in order to give their approval to the deal, which is expected to be completed in the first half of the year 2025.

The Nordstrom family would control the corporation under the agreement.

Which will equate to 50.1% of the business, while Liverpool will hold 49.9% of the company. In accordance with a press announcement, common stockholders would receive a cash payment of $24.25 for each share of Nordstrom common stock that they now hold in their possession.

According to a news release, Nordstrom’s Chief Executive Officer Erik Nordstrom remarked that the company has been working on the fundamental principle of assisting customers in feeling well and looking their best for more than a century.

This idea has been the driving force behind the company’s operations. The company is about to embark on an exciting new phase, and today marks the beginning of that chapter.

We, the members of my family, are looking forward to working together with our coworkers to make certain that Nordstrom will continue to be successful well into the foreseeable future.

Over the course of its history, the retail establishment has made repeated attempts to transition into a private operation. 2018 was the year that a previous attempt was unsuccessful at materializing.

In September, the Nordstrom family made an offer to purchase the company at a price of $23 per share, which resulted in the company being valued at around $3.76 billion. The offer was accepted by the company.

Over the course of the early trading session, the stock of Nordstrom witnessed a decrease of nearly one percent. As a result of a report that was published by Reuters in March, which said that the family intended to take the company private, the shares of the company have undergone a large boost.

November revenues beat Wall Street forecasts for Nordstrom’s fiscal third quarter.

This was due to the fact that the company’s revenue climbed approximately 4% year-over-year. However, the company claimed that it anticipated a dismal holiday season, which resulted in a little more optimistic prediction for the full year’s revenues. This was the case since the corporation anticipated that the holiday season would be weak.

Customers continue to be picky when it comes to purchasing things that are desires rather than needs, and they have paid greater attention to pricing, according to the majority of merchants, including Walmart, Best Buy, and Target.

These businesses have also said that customers have become more price conscious. This has led to an increase in the amount of pressure that is being placed on luxury clothing businesses.

Nordstrom, a department store, was initially founded in 1901 as a shoe business but later expanded into other areas. Since then, it has developed into a department store that provides customers with a diverse range of clothing and accessories at more than 350 sites around the United States. These locations include Nordstrom Rack, Nordstrom Local, and Nordstrom.

El Puerto de Liverpool is responsible for the management of two further department store chains under the names Liverpool and Suburbia. In addition, El Puerto de Liverpool is home to 29 shopping centers that are dispersed across the entirety of Mexico

SOURCE: CNBC

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Sonic the Hedgehog Dominates Christmas Wish Lists

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Sonic the Hedgehog Dominates Christmas Wish Lists

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Sonic the Hedgehog Merchandise are hot Christmas Items

Sonic the Hedgehog is dominating Christmas wish lists this year. The lovable blue hedgehog is back in the spotlight, from sonic the hedgehog toys and games to sonic the hedgehog coloring pages and movie hype.

Sonic-themed holiday merchandise is on fire, from quirky sweaters to action figures flying off shelves. Sonic the Hedgehog Christmas outfits for kids are selling out fast, making them a go-to gift option for festive fun.

Retailers have been quick to recognize Sonic’s holiday appeal. Special promotions and exclusive items, like the Sonic holiday t-shirts, are everywhere.

Everyone’s stocking up on Sonic merchandise, from big-box stores to boutique retailers.

Online shopping platforms are seeing a surge in searches for Sonic items. Whether it’s Sonic Christmas-themed tops or Sonic the Hedgehog coloring pages, Sonic the Hedgehog toys or Sonic and the Hedgehog 3, the demand is skyrocketing.

Retailers who tap into this trend are sure to see strong holiday sales.

Sonic has been around since the early 90s, but his popularity never wanes. With the release of Sonic 3, fans are more excited than ever.

Sonic the Hedgehog 4

Meanwhile, Paramount Pictures is preparing “Sonic the Hedgehog 4,” with the newest addition in the family-friendly genre set for a spring 2027 release.

The announcement comes as “Sonic 3” opens in theatres on Friday, estimated to gross $55 million to $60 million from 3,800 North American locations.

The sequel is shaping up to be a good holiday season blockbuster for Paramount, which explains the desire in future “Sonic” adventures. On the international front, the film will be released on Christmas Day in 52 markets.

On Rotten Tomatoes, critics gave “Sonic 3” an outstanding 87% fresh score.

The first two films grossed a total of $725.2 million at the global box office and generated over $180 million in global consumer expenditure through home entertainment rentals and digital purchases.

They also inspired a spinoff Paramount+ series, “Knuckles,” which premiered earlier this year.

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