Microsoft Settles Activision Blizzard Acquisition Lawsuit for $340 Billion
Microsoft agreed to pay $250 million to settle a shareholder lawsuit over the Activision Blizzard acquisition, with 40% paid by the company and 60% by insurance.Summary
Microsoft has agreed to pay $250 million to settle a three-year class-action lawsuit brought by shareholders regarding the $75.4 billion acquisition of Activision Blizzard. The lawsuit alleged that former CEO Bobby Kotick rushed the sale at $95 per share following a stock price collapse caused by internal sexual harassment scandals, prioritizing his own severance package over shareholder interests. Under the settlement, Microsoft will cover 40% of the funds, while the remaining 60% will be paid by insurance policies held by former executives. Neither party admits wrongdoing. The agreement, filed in Delaware court on May 22, ends all legal disputes between the parties, including a countersuit by Kotick. The settlement is subject to court approval and will compensate affected shareholders.
(Source：Inven Global)