UPDATE 9/3/22: Four more Activision Blizzard shareholders have filed lawsuits against the company over its planned acquisition by Microsoft, bringing the total now to six.
Polygon reported that these legal notices take a similar stance as the original two filings – that Activision Blizzard’s deal violates the Securities and Exchange Act (more on all that below).
In related news, three potential Activision Blizzard stockholders were today revealed as under investigation by US authorities for possible insider trading related to the deal itself.
ORIGINAL STORY 25/2/22: Lawsuits have been filed against Activision Blizzard, this time by two of its shareholders.
The first lawsuit was filed by Kyle Watson in California. In this lawsuit, Watson claims the planned acquisition of Activision by Microsoft is “unfair for a number of reasons”. According to Watson’s lawyers, one of these reasons is that the board is hoping to “procure for themselves and senior management […] significant and immediate benefits” (via Polygon).