The Wayne County Employees' Retirement System, a shareholder of Activision, is suing the company because it believes that Activision did not exercise sound business judgment by relinquishing control ownership to Vivendi in their recent/soon-to-be merger without securing a control premium for selling that control. Vivendi will receive a 52% stake in the company.
Shareholders of the Next Biggest Video Game Company Sue Over "Unfavorable Minority Position"
By relinquishing control, the shareholders of Activision are put at a disadvantage...it will be interesting to see how the courts will determine exactly how disadvantaged they are.
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