Microsoft agrees to pay $250 million to settle a lawsuit over the Activision Blizzard acquisition
, by Thibaut
The Activision Blizzard acquisition is back in the news roughly two and a half years after the deal with Microsoft was finalized. The American tech giant has decided to settle a lawsuit by paying a large sum of money.
The lawsuit was brought by Activision Blizzard shareholders represented by the Swedish pension fund Sjunde AP-Fonden. They accused former Activision Blizzard executives, including CEO Bobby Kotick, of breaching their fiduciary duties by agreeing to sell the company for $95 per share. The shareholders believed that Kotick had rushed to sell in order to keep his job and his $400 million severance package.
Microsoft therefore chose to reach a settlement and pay $250 million to put an end to the lawsuit.
Source: reuters.com