Microsoft Activision Settlement Moves Forward
Microsoft agreed to a $250 million settlement to resolve a shareholder lawsuit regarding its $75 billion purchase of Activision Blizzard.Summary
Microsoft has agreed to a $250 million settlement to resolve a shareholder lawsuit concerning its $75 billion acquisition of Activision Blizzard. The lawsuit, filed by Swedish pension fund Sjunde AP-Fonden, alleged that former executives, including CEO Bobby Kotick, prioritized their own financial interests over shareholder value during the deal. The settlement, filed in Delaware state court, requires judicial approval and covers claims that the board failed to secure the best possible price for investors. Microsoft denied any wrongdoing as part of the agreement. The deal, which gave Microsoft ownership of major franchises like Call of Duty and World of Warcraft, had already received regulatory approval, but shareholder disputes continued through the legal process.
(Source：Legal Reader)