- Overruling an objection, a Delaware judge has signed off on a $275M shareholder settlement related to Activision Blizzard (NASDAQ:ATVI) -- the largest ever for a shareholder derivative suit.
- The case -- a challenge to Activision's $8B deal to acquire its stock that was held by Vivendi, which claimed it unfairly benefited Activision's CEO and co-chairman -- was settled last year when Activision agreed to the resolution.
- As a shareholder derivative lawsuit, the case was brought by investor Anthony Pacchia suing on Activision's behalf, so the settlement was paid to Activision's treasury by Vivendi, insurers and an investor group including CEO Bobby Kotick and co-Chairman Brian Kelly.