More legal trouble for Activision Blizzard: they sue the company and criticize its sale to Microsoft

A pension fund accuses Bobby Kottick of wanting to evade his fiduciary responsibilities.

Activision Blizzard has been accused of promoting since the summer. a discriminatory and toxic work culture for women The allegations at work heated up after the fall of a report that drew the attention directly to CEO Bobby Kottick and caused the company’s stock to lose much of its stock market value. Now, a pension fund takes matters into its own hands and Questioning its sale to Microsoft.

The New York State Joint Pension Fund, which brings together pension plans for public employees in New York, made it public a few days ago. Lawsuit against Activision Blizzard demanding a long list of documentsThey are concerned about the suitability of Bobby Kotick and his board to promote the interests of investors, including materials related to the 69,000 million deal with Microsoft, as well as the rest of those who want to buy the company put forward by the board of directors.

The Board of Directors was not in a position to negotiate the sale of the company.NY backgroundAs we read on Axios, these allegations were reported in the press a few months ago when unsuccessful attempts were made to determine the extent to which Boby Kottick and his board were aware of allegations of sexual misconduct at the company. His goal was to find excuses to file a complaint against all of them for supposedly lowering the company’s stock market value. However, these plans came to naught after the sale of the video game company in question was announced.

“Given Bobby Kottick’s personal and passive responsibility for breaking up the business, it should have been clear that the Board was not in a position to negotiate the sale of the company,” the Fund says in its complaint, collected by Axios. The lawsuit states that the agreement in question still allows Activision-Blizzard to evade the responsibility of its executive director. blatant breaches of fiduciary dutywhile devaluing the company according to their estimates.

In short, one more open front by Activision-Blizzard, not less than they remember from the information portal. His journey remains to be seen. While most of the shareholders approved the sale operation a few days ago, now it remains to overcome the iron regulatory control of the United States, China and Europe.