Activision shareholders reach $250m settlement over Microsoft buyout
Myjoyonline
Activision Blizzard shareholders have agreed to a $250 million settlement regarding the 2023 Microsoft acquisition.Summary
Activision Blizzard shareholders have reached a $250 million settlement over allegations that former executives, including CEO Bobby Kotick, shortchanged them during the 2023 acquisition by Microsoft for $75.4 billion. The lawsuit, led by Swedish pension fund Sjunde AP-Fonden, accused Kotick of breaching fiduciary duties by accepting a $95-per-share price to secure his job and $400 million in benefits. Microsoft and Kotick have filed counterclaims against Sjunde. The settlement, which amounts to about 30 cents per share, is partially funded by Microsoft and will be overseen by Delaware Court of Chancery Judge Kathaleen McCormick.
(Source：Myjoyonline)