Bobby Kotickthe boss of Activision Blizzard, has been accused by New York authorities of having rushed to sell the company to Microsoft in order to shirk responsibility for recent offenses and, incidentally, make significant profits.
Activision Blizzard has been the target of the press for quite some time, for various reasons, such as the mass layoffs of its employees to obtain higher benefits or the gender discrimination and sexual harassment discovered last year. And not only, since its CEO receives a salary of $28,698,375, exceeding the average salary by more than 300 times of your employees.
According to Axios, the Complaint was filed on April 26 by the New York City Employees Retirement System and the city’s fire, police, and teachers’ pension funds. Clean applicantswhich owns shares of Activision Blizzard, filed the lawsuit in order to win access to company recordsin order to be able to expose the CEO and his board of directors to blame them for the devaluation the company.
They first began seeking access to these internal Activision Blizzard documents last October, after the Call of Duty and World of Warcraft publisher was sued by the Department of Fair Employment and Housing ( DFEH) for its failure to deal with sexual harassment and discrimination against female employees. .
Since then, we know that Microsoft has entered into discussions with Kotick on an agreement of acquire Activision Blizzard three days later news claiming the CEO had been aware of the sexual misconduct allegations for years. Although the suit alleges that the Blizzard’s director was unfit to negotiate the sale of the company, the board of directors entrusted him with the negotiations.
“Microsoft opened acquisition discussions on November 19, 2021, but the board of directors did not meet to discuss Microsoft’s scope until two weeks later on December 1, 2021,” the lawsuit states.
During those 2 weeks, Kotick informed Microsoft that it would be willing to listen to an offer of $90 to $105 per share. This offer was made in January 2022, when Microsoft has acquired Activision Blizzard for $95 per share, for a total amount of $68.7 billion.
“With the merger between the 2 companies announced, Kotick will be able to completely shirk its responsibilities and continue to serve as an executive after the purchase closes.”
“The board’s decision to entrust Kotick with the negotiation process is inexcusable for the additional reason that Kotick is willing to personally receive significant material benefits the value of which is not directly aligned with the price of the merger.”
Via: Video Game Chronicle