Update 11:53am PT: Activision Blizzard has issued a statement in response to the New York lawsuit, which it has shared with IGN:
“We disagree with the allegations made in this complaint and look forward to presenting our arguments to the Court.”
Original story: Multiple New York City funds have banded together to file a complaint against Activision Blizzard, alleging that CEO Bobby Kotick and the board may have breached their fiduciary duty in their dealings with Microsoft to be acquired, and harmed the company’s value.
As reported by Axios, the suit was filed on May 2 by the New York City Employees’, Board of Education, and Teachers’ retirement systems, as well as pension funds for the city fire department, and police — all of which hold stock in Activision Blizzard. The plaintiffs are claiming their right to inspect various Activision Blizzard records to determine if any wrongdoing was done through the acquisition process, citing a number of concerns to back their demand.
Activision Blizzard Lawsuit Timeline: The Story So Far