Activision Blizzard Is Getting Sued By Shareholders Over Microsoft Acquisition

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Activision Blizzard just can’t seem to catch a break. The controversial video game company is now facing two new lawsuits that revolve around its ongoing acquisition deal with Microsoft. The lawsuits were filed by shareholders Kyle Watson and Shiva Stein against both the company and its board of directors

According to Polygon, the lawsuits claim that the financial information that the company has shared so far with regard to acquisition is insufficient and misleading and violates the Securities and Exchange Commission Act 14A which states that shareholders be given all the information necessary before they vote. Activision Blizzard’s senior management, including CEO Bobby Kotick, also allegedly gains “lucrative benefits” from the deal and that the said deal wasn’t in the best interest of the company or its shareholders.

Surprisingly, Activision Blizzard is actually looking forward to taking the matter to court stating that, “We disagree with the allegations made in this complaint and look forward to presenting our arguments to the Court.”