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REPORT - Activision Blizzard hit with lawsuit by shareholder
Activision Blizzard is at the center of a new putative lawsuit instigated yesterday by shareholder Douglas M. Hayes of the company, it was revealed in an SEC filing from the firm.
The "Hayes v. Activision Blizzard" suit will attempt to stop a stock sale that would give the company's co-chairman Brian Kelly, CEO Bobby Kotick and majority stockholder Vivendi control of the video game maker, claiming the company's board of directors and general partners violated provisions by failing to submit matters relating to stock for approval by a majority of its stockholders.
Full report here
The "Hayes v. Activision Blizzard" suit will attempt to stop a stock sale that would give the company's co-chairman Brian Kelly, CEO Bobby Kotick and majority stockholder Vivendi control of the video game maker, claiming the company's board of directors and general partners violated provisions by failing to submit matters relating to stock for approval by a majority of its stockholders.