Activision shareholders reach $250 million settlement over Microsoft buyout

WILMINGTON, Delaware: Shareholders of Activision Blizzard reached a $250 million settlement over allegations that ‌the ⁠company’s former ⁠executives and Microsoft shortchanged them when Microsoft acquired the game maker for $75.4 billion in 2023, according to a late Thursday court filing in a Delaware state ⁠court.

Shareholders in ‌the maker of the “Call of Duty” video ⁠game, led by Swedish pension fund Sjunde AP-Fonden, accused former Activision Blizzard executives including Chief Executive Bobby Kotick of breaching their fiduciary duties to investors by agreeing to a $95 per share ‌takeover price.