Microsoft and Activision Blizzard: Disgruntled shareholders file lawsuits

news business Microsoft and Activision Blizzard: Disgruntled shareholders file lawsuits

According to Eurogamer, who discovered this document, Kyle Watson in California was the first to draw. In that lawsuit, he believes Microsoft’s proposed acquisition of Activision Blizzard ” is unfair for several reasons

». If we go by the testimony of Kyle Watson’s attorneys, they believe that Activision Blizzard started this operation. achieve significant and immediate benefits (understood by this face value), although the purchase by Microsoft was not in their interest. Watson goes even further by confirming that the preliminary proxy statement Activision Blizzard filed with the United States Securities and Exchange Commission, ” materially defective ».

As of today, shareholders, beginning with Kyle Watson, believe that Activision Blizzard has failed to provide sufficiently clear documents that would have allowed ” an intelligent, informed and rational decision about the acquisition of the company by Microsoft.

According to this information, Activision Blizzard hastened to deny, arguing that they do not agree with these allegations and are sure to present their arguments in court. Watson isn’t the only one trying this approach, as Eurogamer reports that shareholder Shiva Stein has followed suit.

Valued at $68.7 billion (equivalent to $95 per share), Microsoft’s acquisition of Activision Blizzard must overcome many obstacles, most notably FTC (Federal Trade Commission) scrutiny, before finally being validated.

source : Eurogamer