Microsoft Settles Activision Shareholder Lawsuit for $250 Million
Microsoft has agreed to a $250 million settlement to resolve a shareholder lawsuit concerning its acquisition of Activision Blizzard.
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Microsoft Reaches $250 Million Settlement in Lawsuit With Activision Blizzard Shareholders
Microsoft has settled a shareholder lawsuit related to its acquisition of Activision Blizzard for $250 million. The lawsuit, led by the Sjunde-AP-Fonden fund, accused former Activision Blizzard executives, including CEO Bobby Kotick, of breaching fiduciary duties by agreeing to the acquisition price. Both Microsoft and Kotick deny the allegations, with the settlement aimed at avoiding litigation distractions. The acquisition was finalized in October 2023, bringing Activision Blizzard into the Xbox family.
Evening Legal Briefs
Microsoft has agreed to a $250 million settlement to resolve a lawsuit concerning its acquisition of Activision Blizzard. Separately, a voice actor for Yu-Gi-Oh is suing TikTok, alleging the use of AI deepfakes.
Microsoft to pay $250M to settle lawsuit filed by aggrieved Activision Blizzard shareholders
Microsoft has agreed to pay $250 million to settle a lawsuit filed by Swedish pension fund Sjunde AP-Fonden (AP7) concerning its $68.7 billion acquisition of Activision Blizzard. The lawsuit alleged that former Activision Blizzard CEO Bobby Kotick rushed the sale to avoid consequences of sexual harassment allegations. Microsoft stated it is settling to avoid litigation burdens and does not substantiate the claims of systemic misconduct.
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.
Microsoft (MSFT) to pay out $250 million settlement in Activision Blizzard Swedish pension lawsuit
Microsoft will pay a $250 million settlement in a Swedish pension lawsuit concerning the acquisition of Activision Blizzard. The lawsuit alleged that former CEO Bobby Kotick expedited the sale to secure personal benefits and retain his position.
Microsoft to pay $250 million settlement over ‘rushed’ Activision purchase
Microsoft has agreed to pay a $250 million settlement related to its acquisition of Activision Blizzard. The settlement addresses concerns that the purchase was rushed. This news follows Microsoft's completion of the acquisition.
Four years later, Microsoft finally finishes fighting over the Activision acquisition
Microsoft has settled a lawsuit filed by Swedish pension fund Sjunde AP-Fonden for $250 million, resolving allegations that Activision Blizzard was sold too cheaply during Microsoft's $69 billion acquisition. The settlement also dismisses countersuits filed by former Activision CEO Bobby Kotick and Microsoft. This resolution concludes a legal dispute that arose after the acquisition was finalized.
