Microsoft agrees to pay $250m to settle lawsuit over Activision Blizzard deal
Microsoft has agreed to pay $250 million to settle a class action lawsuit filed by Swedish pension fund Sjunde AP-Fonden AP7, which alleged that Activision Blizzard CEO Bobby Kotick rushed the sale to Microsoft. The lawsuit claimed shareholders were deprived of a better stock price, though Microsoft and Kotick denied the allegations. The settlement, pending court approval, will be funded 40% by Microsoft and 60% by directors' and officers' liability insurance.
- Entities
- Person: Bobby Kotick
- Company: Microsoft
- Topic: Lawsuits
- Company: Activision Blizzard
- Topic: Mergers and Acquisitions
- Company: Sjunde AP-Fonden AP7
- Company: Embracer
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