Activision Blizzard boss Bobby Kotick, who was among the highest-paid chief executive officers in the country in 2020, became one of the lowest-paid top executives last year after taking a $153 million pay cut, according to an analysis. Kotick was the second-highest-paid CEO in the country in 2020 after receiving...
New York City has filed a lawsuit against Activision Blizzard, alleging that it rushed the Microsoft acquisition to diminish ongoing investigations at the company. The lawsuit was filed earlier this week (May 2) by the city of New York’s retirement system, fire department pension fund, police pension fund and board of education retirement system. These groups currently own Activision Blizzard stock, and allege that recent decisions have damaged company value (thanks, Axios).
Earlier at the start of this year, Microsoft expressed concerns to acquire Activision Blizzard. Microsoft offered $95 per share while the shares were going for $77, a majority of the shareholders said okay to the deal but there was always a hint that Wall Street didn’t like the deal. And now, according to a report by Axios, the New York City Employees’ Retirement System (NYCERS) has filed a lawsuit in Delaware claiming that Microsoft’s deal undervalues the company and that CEO Bobby Kotick was “unfit to negotiate a sale.”
New York City Suing Activision Blizzard Over Allegedly Rushed Microsoft Deal by Bobby Kotick to Escape Liability
Activision Blizzard has been sued by a group based in New York City over an alleged rushed arrangement of a deal with Microsoft by CEO Bobby Kotick. The suit claims this lets him avoid liability and hurt the company’s value. According to a report by Axios’ Stephen Totilo, the...
New York City sues Activision Blizzard, says Bobby Kotick is 'unfit' to negotiate the Microsoft buyout
Activision Blizzard is facing yet another lawsuit, this one filed by the New York City Employees' Retirement System and pension funds representing the city's fire department, police, and teachers. The suit, available via Axios, claims that CEO Bobby Kotick was "unfit to negotiate a sale of the company" to Microsoft, and made the deal in part to "escape liability" for his role in enabling workplace misconduct and abuse.
Activision Blizzard has been hit with another lawsuit, this time from New York City. The suit was filed Monday in the Court of Chancery in Delaware as part of a complaint to push Activision Blizzard to reveal documents for investigation of possible wrongdoing. The new suit, first reported by Axios,...
Has been hit with another lawsuit, this time from New York City officials. The suit, which was first obtained by , takes aim at CEO Bobby Kotick. It accuses him of being "unfit" to negotiate his company's pending sale to Microsoft, citing his "personal responsibility and liability for Activision’s broken workplace."
New York City is suing Activision over an ongoing merger deal with Microsoft for the gaming company allowing CEO Bobby Kotick to conduct the negotiations. The city alleges that Kotick rushed the merger as a means to avoid liability for misconduct under his watch at Activision-Blizzard. On Tuesday, five New...
It’s no longer just California that’s going after Activision and CEO Bobby Kotick. Now, the east coast is getting in on the action, too. According to a report on Axios, the New York City Employee’s Retirement System and pension funds for the city’s teachers, police, and firefighters has filed suit in Delaware's Court of Chancery demanding that the company provide a list of documents, including the ones associated with the potential Microsoft buyout and the other five possible buyers mentioned in Activision’s account of talks.
Activision Is Now Being Sued By New York City, Alleging Bobby Kotick Was “Unfit” To Negotiate Microsoft Sale
Activision Blizzard’s latest legal troubles are now coming from New York City, as Axios reports a suit was filed in Delaware by New York City Employees’ Retirement System and pension funds for the city’s teachers, police, and firefighters. As Activision Blizzard stockholders, they are suing the publisher,...
New York City has now sued Activision and the target is its CEO Bobby Kotick. The new lawsuit was filed in Delaware on April 26, 2022 by New York City Employees’ Retirement System and pension funds for the city’s teachers, police and firefighters according to Steven Totilo from Axios. It alleged that Kotick actually rushed to secure a takeover bid from Microsoft, which he used to escape liability for misconduct at the company.
New York City lawsuit implies Activision CEO Bobby Kotick used Microsoft deal to "escape accountability"
A new lawsuit filed in Delaware alleges that embattled Activision CEO Bobby Kotick ignored misconduct at the company and that the publisher's $70 billion acquisition deal with Microsoft would allow Kotick to "escape liability and accountability entirely." As Axios first reported, the complaint was jointly filed on April 26 (public...
New York City Is Suing Activision On The Grounds That Bobby Kotick Was Unfit To Negotiate Microsoft Deal
Microsoft purchasing Activision Blizzard is one of the biggest news stories in the history of video games. The reported $68.7 billion price tag was a record purchase, and unsurprisingly, it made waves in the world of business — ever since the deal was announced, it has been getting analyzed and, in some cases, scrutinized.
New York City pension fund officials sued Activision Blizzard late last month in a bid to force the company to disclose records that may uncover whether CEO Bobby Kotick breached his fiduciary duty to investors, according to a newly released copy of the complaint. The complaint by the New York...