Activision Blizzard Is Being Sued by a Shareholder Over Microsoft's Buyout
An Activision Blizzard shareholder is now suing the developer over its recent sale to Microsoft.
According to new reports, a shareholder by the name of Kyle Watson alleges that Microsoft's acquisition of Activision Blizzard is "unfair for a number of reasons," one of which includes the argument that the developer's board is simply hoping to "procure for themselves and senior management... significant and immediate benefits." He goes on to claim that the deal may constitute a conflict of interest, and that it "is not in the best interest" of the company because it will only "produce lucrative benefits for the officers and directors" at the expense of its shareholders. The suit also highlighted the "golden parachute" that CEO Bobby Kotick has if he were to be fired.
So far, Activision Blizzard has simply responded with the following statement to Polygon: "We disagree with the allegations made in this complaint and look forward to presenting our arguments to the Court."
It's also not the only lawsuit the developer is currently facing. Another group of shareholders has also filed a case against it claiming negligence over the sexual harassment and discrimination reports, which ultimately led to the company's shares dropping significantly in value.
Elsewhere in the gaming industry, Nintendo is acquiring The Legend of Zelda: Breath of the Wild collaborator SRD.