New York City sues Activision, targeting CEO Bobby Kotick

[Substatic 484]

 

New York City sues Activision, targeting CEO Bobby Kotick (axios.com)

 

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Activision CEO Bobby Kotick rushed to secure a takeover bid from Microsoft to escape liability for misconduct at the company, a new lawsuit from New York City officials alleges.

 

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What they’re saying: “Given Kotick’s personal responsibility and liability for Activision’s broken workplace, it should have been clear to the Board that he was unfit to negotiate a sale of the Company,” the suit says. “But it wasn’t.”

New York says the Microsoft deal, which is pending regulator approval, allows “Kotick and his fellow directors a means to escape liability for their egregious breaches of fiduciary duty.”
It also says Microsoft’s $95/share offer undervalues the company, which was trading at close to that before Activision’s public scandals began last summer.

 

 

 

What will happen to Phil Spencer, our lord and savior?

[FIREPOWER 922]

What a total shit show.

 

 Lemmings are avoiding this thread like a plague to no one's surprise.

 

 

 I'm gonna LMFAO if this deal doesn't go through because Phil and Bobby Kotick decided on a shady way to secure it.

[SheepKilla 473]

Warren Buffett announced he just bought stock a few days ago at $80  must be fun buying stock at $70-80 when you know there's a buyout for $95 that was agreed.