Activision Blizzard faces lawsuits from shareholders regarding the sale to Microsoft


Ah, here we go, the lawsuits have started to roll in about the sale of Activision Blizzard to Microsoft. We all knew they were coming because you can’t have a big corporate sale without at least a few of them coming up, and we all know how Activision Blizzard is such a persistent feature in courts these days that the company has its own theme music and bumper sequences. Of course, the lawsuits in question are entirely based around whether or not the existing rich people who own stock in the company are going to get rich enough based on sales prices because that’s the world we live in.

The two lawsuits that have been filed so far come from shareholder Kyle Watson and Shiva Stein, both of whom allege that the financial information disclosed so far is insufficient and paints an inaccurate picture. These suits have been filed in California and New York, respectively, with Activision Blizzard stating for the record that it believes the allegations are incorrect and that it looks forward to its time in court. At least the former suit is taking issue with Bobby Kotick’s golden parachute, though!

Source: Polygon
Activision-Blizzard is considered a controversial gaming company owing to a long string of scandals over the last few years, including the Blitzchung boycott, mass layoffs, labor disputes, and executive pay fiasco. In 2021, the company was sued by California for fostering a work environment rife with sexual harassment and discrimination, the disastrous corporate response to which compounded Blizzard’s ongoing pipeline issues and the widespread perception that its online games are in decline. Multiple state and federal agencies are investigating the company as employees strike and call for Bobby Kotick’s resignation. As of 2022, the company is being acquired by no less than Microsoft.
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