Activision shareholders reach US$250 million settlement over Microsoft buyout - BNN Bloomberg
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Article Excerpt
WILMINGTON, Delaware — Shareholders of Activision Blizzard reached a US$250 million settlement over allegations that the company’s former executives and Microsoft shortchanged them when Microsoft acquired the game maker for $75.4 billion in 2023, according to a filing made public on Friday in a Delaware state court.
Shareholders of the “Call of Duty” video game maker, led by Swedish pension fund Sjunde AP-Fonden, accused former Activision Blizzard executives including Chief Executive Bobby Kotick of breaching their fiduciary duties to investors by agreeing to a $95-per-share takeover price.
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