NEW YORK (TheStreet) -- Activision Blizzard (ATVI) shares are down 0.6% to $21.68 on Monday after the video game maker hired former New York City mayor Rudolph Giuliani to defend it against a lawsuit filed by Manuel Noriega over his role in the company's popular Call of Duty video game, according to Bloomberg.
Noriega, the former Panamanian dictator who was convicted of drug trafficking charges in 1992, sued to have his likeness removed from the company's video game back in July.
Activision will petition the court to dismiss the lawsuit with Giuliani saying "What's astonishing is that Manuel Noriega, a notorious dictator who is in prison for the heinous crimes he committed, is upset about being portrayed as a criminal and enemy of the state in the game Call of Duty."STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.
TheStreet Ratings team rates ACTIVISION BLIZZARD INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:
"We rate ACTIVISION BLIZZARD INC (ATVI) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its solid stock price performance, reasonable valuation levels, largely solid financial position with reasonable debt levels by most measures and expanding profit margins. We feel these strengths outweigh the fact that the company has had sub par growth in net income."