Gamasutra: The Art & Business of Making Gamesspacer
View All     RSS
September 30, 2016
arrowPress Releases
September 30, 2016
PR Newswire
View All






If you enjoy reading this site, you might also want to check out these UBM Tech sites:


Another shareholder sues to block Activision's Vivendi split
Another shareholder sues to block Activision's Vivendi split
September 12, 2013 | By Kris Ligman




Activision-Blizzard announced it was buying back its majority stake from media conglomerate Vivendi back in July. However, not everyone was happy with the decision, particularly several stockholders. Now Bloomberg reports that a new lawsuit has emerged attempting to block the buyback.

The suit, filed on September 11th by Activision-Blizzard shareholder Douglas M. Hayes, argues that the deal constitutes insider trading and will ultimately benefit few besides CEO Bobby Kotick and his investor group. Hayes is suing to halt the stock buyback and compel the company to instead open a vote on the terms of the proposal, one which includes non-Vivendi shareholders such as himself.

An earlier suit brought by another shareholder, Todd Miller, makes several similar charges. Miller's August suit alleges that Kotick et al stand to "score an immediate paper windfall of $664 million [for] no apparent business purpose" should the deal go through. It also appeals to the court to require Activision implement checks against "future one-sided self-dealing."


Related Jobs

Cellar Door Games
Cellar Door Games — Toronto, Ontario, Canada
[09.30.16]

Unity Programmer
Cellar Door Games
Cellar Door Games — Toronto, Ontario, Canada
[09.30.16]

Network Multiplayer Programmer
CCP
CCP — London, England, United Kingdom
[09.30.16]

Senior Engineer
3BLACKDOT
3BLACKDOT — Los Angeles , California, United States
[09.29.16]

Art Director









Loading Comments

loader image