Activision Blizzard Shareholders Settle Microsoft Buyout

Shareholders of Activision Blizzard>>>, led by Swedish pension fund Sjunde AP-fonden>>>, reached a $250 million settlement over allegations that former Activision Blizzard>>> executives, including CEO Bobby Kotick>>>, and Microsoft>>> shortchanged them during Microsoft>>>'s $75.4 billion acquisition of the game maker in 2023. The shareholders claimed Bobby Kotick>>> breached fiduciary duties by rushing the merger to secure personal benefits. Microsoft>>> and Bobby Kotick>>> had also filed counterclaims against Sjunde AP-fonden>>>. The settlement, which will be funded 40% by Microsoft>>> and the remainder by directors' and officers' liability insurance, needs approval from Chief Judge Kathaleen McCormick>>> of the United States — Delaware Court of Chancery>>>. Both sides denied allegations but settled to avoid further litigation.