In re Activision Blizzard, Inc. Stockholder Litigation, Delaware Court of Chancery
Bragar Eagel & Squire, P.C. announced $275 million settlement of claims against Bobby Kotick, Chief Executive Officer of Activision Blizzard, Inc. (the “Company”), Brain G. Kelly, Co-Chairman of the Company, Vivendi, S.A. and other defendants, stemming from a transaction, announced in July 2013, in which the Company and an entity controlled by Kotick and Kelly purchased over 50% of the Company’s outstanding stock from Vivendi. In addition, the settlement provides for the addition of two independent directors to the Company’s board and limitations on Kotick’s and Kelly’s voting power. The settlement is the largest derivative settlement in the history of the Delaware Court of Chancery and the largest cash derivative settlement in the country. The settlement is subject to approval of the Delaware Chancery Court.
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