GAGames Industry
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.
