New York City Pension Funds sues Activision over financial case

Five New York City pensioners, a group that owns products in Activision Blizzard, a filmmaker, have sued Activision, alleging the company failed to complete financial information. Because the team is trying to find out if Activision got a fair price in its sales plan. for Microsoft.

The lawsuit, filed in Delaware state court, says the New York group is questioning whether Activision’s subsidiaries could agree to sell the company to Microsoft for about $ 1 billion. 70 billion, or about $ 95 a share, which the pension fund says is worthless. But they could not dig into the records they wanted to examine, the lawsuit said, because Activision had refused to turn them all over.

The group “seeks access to certain books and archives to investigate the independence and dissatisfaction of the board,” the lawsuit alleges, according to the Activision board.

The grievance was filed by a group including the New York City Fire Department Pension Fund and the New York City Pension Fund, and was filed April 26th. It was announced just before Wednesday by Axiom.

The pensioners questioned whether Bobby Kotick, CEO of Activision, had a quick and meaningful discussion with Microsoft last year, with little oversight by the board, to avoid any repercussions. trial of the self that he and his company may face for the treatment of a sexual offense. grievances against the authorities.

“Kotick has been aware of a number of alleged criminal misconduct by company executives – but nothing has been done to address them or prevent further misconduct,” the lawsuit alleges. “Kotick has therefore faced the associated liability for breach of duty, as well as other members of the board.”

An Activision expert said the company disagreed “with the allegations in this complaint and looks forward to presenting our arguments to the court.”

The New York lawsuit involved a legal action against Activision, which led to popular games such as Call of Duty and Overwatch. Last summer, a California law firm sued Activision, accusing it of promoting the biological and sexual exploitation of women. In response, staff members protested and top executives were forced out, although Mr. Kotick live.

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