Activision Holders Reach 250 Million Dollar Settlement
Shareholders of Activision Blizzard reached a 250 million dollar settlement over claims that executives and Microsoft undervalued the company during its 75.4 billion dollar buyout. The agreement resolves allegations of fiduciary duty breaches and will be funded by Microsoft and insurance.
Shareholders of Activision Blizzard reached a $250 million settlement with Microsoft Corp over the $75.4 billion acquisition of the game maker. The deal, finalized in 2023, remains the largest acquisition in the history of the video game industry. The resolution ends litigation alleging former executives breached fiduciary duties to secure personal benefits during the merger.
A pension fund from Sweden, Sjunde AP-Fonden, led the lawsuit in the United States. The group claimed former CEO Bobby Kotick rushed the $95-per-share deal to protect $400 million in change-of-control benefits.
