Following the shareholders approval for letting it be sold to Microsoft, Activision Blizzard not only will face the scrutiny of the Federal Trade Commission, but some shareholders that practically believe that everything went wrong and nobody for the culprits and alleged suspect will be paying their dues at the end.
The City Of New York’s is the recent shareholder suing Activision Blizzard for selling itself to Microsoft as allegedly, Bobby Kotick was in no condition for doing such deal.
Why is NYC suing you might ask?
It is a normal thing to have things like 401k and retirement funds invested in stock to improve their value accordingly and in this case, NYC has the New York City Employees’ Retirement System and pension funds for the city’s teachers, police and firefighters.
The NYC believes that Kotick and the Activision Blizzard Board’s action adversely affected the value of the gaming conglomerate and hence, in a cascade effect their investment, due the hasty negotiations by the end at 2021 that ended in the major Microsoft’s announcement of purchasing Activision Blizzard.
The lawsuit highlighted by Axios says that the NYC is demanding that Activision provide a long list of documents, including material related to the Microsoft deal, info on five possible buyers cited in Activision’s official description of the sale talks, board memos and more, has it is believed that contains on how well informed Bobby Kotick was on the toxic workplace that were both Activitsion and Blizzard Entertainment and doing nothing but being part of the problem.
The very same saga that Blizzard and later Activision’s studios had is the exact reason why Kotick was unfit to make this kind of deal with Microsoft.
Definitely we will be hearing more as FTC began their own work on whether the fusion of Activision Blizzard and Xbox Game Studio is for the benefit of consumers or not.