New York City Sues Activision Blizzard; Targets CEO Bobby Kotick

New York City Sues Activision

Things haven’t been great for Activision Blizzard for the past few months, the company has been sued quite a lot of times at this point. Now, even New York City is joining in as they are suing Activision Blizzard. According to them, CEO Booby Kotick was “unfit” to negotiate the sale of the company to Microsoft. New York City Employees’ Retirement System filed the suit in Delaware on April 26, reports suggest.

New York City Employees’ Retirement System has also demanded a detailed report of other buyers interested too. “With the announced merger, Kotick will be able to escape liability and accountability entirely, and will instead continue to serve as an executive after the Merger closes,” the plaintiffs write in the complaint.

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“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 states.
Image Courtesy of CNBC Television

In case you missed it, on January 18, 2022, Microsoft agreed to acquire Activision Blizzard for $95 per share. This deal was worth almost $69 billion. The Activision Blizzard shareholders even overwhelmingly agreed to the purchase on April 28, 2022. Overall 98% of the shares voted “Yes.”

This deal is slated to close sometime in Microsoft’s fiscal year which ends next year. If it goes through, then it will add Activision Blizzard to Xbox Game Studios and Bethesda Softworks as an Xbox first-party publisher. Also, if the deal goes through, then it will be the largest video game industry acquisition ever.

With that said, what do you think about New York City suing Activision Blizzard? Do let us know your thoughts by dropping a comment down below.

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