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New York City officials have claimed in a new lawsuit that Microsoft\u2019s deal to acquire Activision Blizzard allows CEO Bobby Kotick to \u201cescape liability and accountability entirely\u201d for widely reported misconduct at the company, some of which he has allegedly ignored.<\/p>\n

As reported by Axios, the new lawsuit was filed in Delaware on April 26 by the New York City Employees\u2019 Retirement System and various NYC pension funds for local professions like teaching, policing, and more. The groups believe the gaming giant\u2019s management has hurt the company\u2019s value, affecting the stock they own.<\/p>\n

The suit further alleges that the stockholders weren\u2019t given access to all the corporate books and records rightfully requested to investigate potential wrongdoing and breaches of fiduciary duty by the company\u2019s board concerning Microsoft\u2019s pending acquisition of Activision Blizzard. Additionally, the suit claims that the groups met similar issues last year when requesting documents to dig into workplace issues and that Kotick \u201cwill be able to escape liability and accountability entirely\u201d through the merger while claiming \u201csubstantial non-tradeable benefits\u201d.<\/p>\n

As for the financial element of the complaint, the suit claims that the $95 per share price in Microsoft\u2019s deal to acquire Activision Blizzard undervalues the company as it \u201crepresents a mere 1% premium\u201d over what it was trading at initially before the state of California sued the company in July 2021.<\/p>\n

\u201cGiven Kotick\u2019s personal responsibility and liability for Activision\u2019s broken workplace, it should have been clear to the board that he was unfit to negotiate a sale of the company,\u201d the lawsuit states. \u201cBut it wasn\u2019t.\u201d<\/p>\n

You can find the full complaint here, courtesy of Axios.<\/p>\n<\/p><\/div>\n

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New York City officials have claimed in a new lawsuit that Microsoft\u2019s deal to acquire Activision Blizzard allows CEO Bobby Kotick to \u201cescape liability and accountability entirely\u201d for widely reported misconduct at the company, some of which he has allegedly ignored. As reported by Axios, the new lawsuit was filed in Delaware on April 26 […]<\/p>\n","protected":false},"author":3,"featured_media":16565,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/www.pcgamesn.com\/wp-content\/uploads\/2021\/12\/activision-blizzard-logo.jpg","fifu_image_alt":"","footnotes":""},"categories":[571],"tags":[],"class_list":["post-16564","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-pc"],"yoast_head":"\n