Technology,
Mergers & Acquisitions,
Antitrust & Trade Reg.
Mar. 1, 2022
Shareholders sue to halt Activision sale to Microsoft
The Los Angeles and New York lawsuits allege that current directors and executive officers of Activision Blizzard including CEO Bobby Kotick and other members of the board have “entered the proposed transaction to procure for themselves and senior management of the company significant and immediate benefits,” including golden parachutes.
Shareholders in Los Angeles and New York sued to block Activision Blizzard's $68.7 billion sale to Microsoft, claiming not enough information has been provided to determine whether company officers have a conflict of interest to enrich themselves at the expense of investors.
Activision responded in an email regarding the Los Angeles lawsuit: "We disagree with the allegations made in this complaint and look forward to presenting our argumen...
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