Sjunde AP-Fonden, a Swedish state-run pension fund, has sued the two parties and filed a 205-page complaint that accuses the two companies of collusion. According to Bloomberg Law, the lawsuit alleges billion-dollar deal was “rigged to exploit the beleaguered gaming giant’s sexual harassment crisis and protect its CEO,” following allegations of sexual harassment, employment discrimination, and retaliation on the part of Activision Blizzard. Moreover, the former and current members of the board, including CEO Bobby Kotick, are facing allegations of engineering an underpriced deal in exchange for terms that would see Kotick, who has been shrouded in controversy, remain CEO until the deal is complete. The class action lawsuit, which was made public in Delaware’s Chancery Court on November 10, says: Activision’s spokesman Joe Christinat rose to defend the merger, explaining that “this is a great deal for shareholders. We garnered 98% approval of votes cast. The board went through a thorough process to decide the right move for employees, shareholders, and players.” In a similar fashion, a Microsoft spokesperson stated the “proposed acquisition of Activision Blizzard was negotiated lawfully and fairly.” If the deal goes through, Activision Blizzard would become a division of Microsoft Gaming, making Microsoft the third-largest gaming company, behind Tencent and Sony, but this will only happen once they get past their multiple litigation problems, which include a recent investigation opened by the UK’s Competition and Markets Authority.
