Videogame maker Activision Blizzard reached a record $275 million settlement over a lawsuit by a shareholder who opposed the company's 2013 deal to acquire its stock that was held by Vivendi SA. The owner of the "World of Warcraft" and "Call of Duty" games said in a statement Wednesday the money would be paid by insurance companies and unidentified defendants.The payment settles a class action and what is known as a derivative lawsuit in which a shareholder sues on behalf of the company. As a result, the money will be paid to Activision rather than Activision's shareholders.No party acknowledged wrongdoing, according to Activision.The settlement is the largest of a shareholder derivative lawsuit, topping last year's $139 million settlement involving News Corp.
Activision, Inc. (Activision Blizzard) is a worldwide publisher of online, personal computer (PC), console, handheld, and mobile interactive entertainment products. Shares of ATVI fell by 2.2% or $-0.44/share to $19.57. In the past year, the shares have traded as low as $16.55 and as high as $24.18. On average, 8444140 shares of ATVI exchange hands on a given day and today's volume is recorded at 10537386.
News Corporation is a diversified media and information services company. Shares of NWSA traded higher by 1.2% or $0.18/share to $15.19. In the past year, the shares have traded as low as $14.28 and as high as $18.53. On average, 3977130 shares of NWSA exchange hands on a given day and today's volume is recorded at 10770945.
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