Technology
Jan. 19, 2023
Activision shareholder dismissal cautionary tale?
The lead counsel for Activision, Kevin P. Muck, said the decision could have broad applications to other companies. “The fundamental issue in this case is whether Activision’s board is entitled to do its job — specifically, to make decisions as to what is in the best interests of the company and its shareholders,” wrote Muck.
A Central District judge’s decision this week to dismiss for the third time a derivative lawsuit by shareholders against video game developer Activision might serve as a cautionary tale to attorneys filing similar suits in other matters.
“On this one issue, there was a weakness in the pleading, which the judge has noted repeatedly, that the plaintiffs apparently could not uncover sufficient facts to remedy, and that’s what ultimately cost t...
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