As reported by the Axios portal, New York City as well will sue Activision. According to reports, Bobby Kotick could not be reached for comment. According to Axios’ Stephen Totilo, an attempt was made to hasten his leadership and the board out of the risk of legal action over corporate misconduct.
In this case, it appears to be a major cut into the acquisition process, which will not only delay the deal but also. can violate the law.
The lawsuit is a ruling by the Delaware Court of Justice of Chancery (specifically the “220” lawsuit) that allows investors to force companies to open their books and publish them. the offense.
New York City is seeking lengthy information from Activision, including information related to the Microsoft deal, information about five customers mentioned in the description of the Activision sales conference , group minutes, and more.
The city has been activating Activision for inside information since last year, for the first time to find out if CEO Bobby Kotick was aware of the company’s sexual harassment. (This misconduct is in accordance with the law).
NEW: NYC is suing Activision, saying Bobby Kotick is unwilling to discuss Microsoft’s deal – and that the deal has hit him and his board out of the dangers of a lawsuit. how they manage violations of the company
Details, not satisfied at the linkhttps: //t.co/m7LVLaeaPd
– Stephen Totilo (@stephentotilo) May 4, 2022
As stated in the indictment, New York sought access to Activison books as part of the indictment against Kotick and the board. should depreciate the value of the company. He expressed frustration that Kotick, already on fire, had joined the urgent talks to sell the company to Microsoft by 2021.
The process has been open for days April 26 in Delaware through the New York City Employee Retirement System and the city trainer, police, and pensioner for firefighters. This The group is affiliated with Activisionaccording to the Axios report, and believe that the big game of management is hurting the company’s value.
He also said that the request of $ 95 / Microsoft Share Devalues the Companywhich traded close to that before Activision public scandals began last year.
Here it seems like the “only” lawsuit for damages, because this group has the idea that Bobby Kotick and Activision are trying to avoid payment. We know the members voted in favor of more than 98% of the good votes in the last week, thus recognizing that we are not facing any major risk.
Buying a company of this size has a lot of potential and interest, so it is always there that the bureaucratic level really has a long way to go. We expect it to be completed by June 2023.