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Microsoft agrees to pay $250 million to settle a class-action lawsuit brought by shareholders regarding the acquisition of Activision Blizzard.
Microsoft agreed to pay $250 million to settle the Activision shareholder lawsuit.
KEY POINTS
- Microsoft will pay 40% of the settlement; insurance for former executives covers the remaining 60%.
- Shareholders receive about 30 cents per share from the settlement if the court approves.
- Neither Microsoft nor Activision executives admit wrongdoing under the settlement agreement.
- Former CEO Bobby Kotick was accused of selling at $95 per share to secure a $400 million severance.
COMPANIES
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