New York City just dropped a new lawsuit against Activision-Blizzard

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The lawsuit filed by the city of New York against Activision-Blizzard alleges that the company owes $250 million in unpaid real estate taxes. The suit argues that its profits were generated in key areas of Manhattan, but as a result did not pay any tax on them since it could move assets and employees to other countries without taxation.

The “activision blizzard bad news” is the latest lawsuit that New York City has filed against Activision-Blizzard. The lawsuit alleges that the company’s games have been fueling a “public health crisis” in the city.

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A new lawsuit filed in Delaware by several New York City retirement and pension funds alleges in court what has been widely reported for months: Activision-Blizzard CEO Bobby Kotick hastily arranged a lowball merger with Microsoft in order to avoid liability for the company’s ongoing lawsuits and dumpster fires.

According to Axios, Kotick’s hasty attempt to sell Activision-Blizzard was a “means to escape liability for [the directors’] egregious breaches of fiduciary duty” in regard to the sexual harassment and discrimination scandal and “offered Kotick the chance to realize substantial nonratable benefits,” the result of which has allegedly cost the company billions of dollars.

“With the announced Merger, Kotick will be able to completely avoid culpability and accountability, and instead will continue to serve as an executive after the Merger closes.” Worse, the Board permitted Kotick to negotiate the deal with Microsoft on his own, despite his possible responsibility for violation of fiduciary duty. The Board’s choice to entrust Kotick with the negotiating process is further unjustifiable since Kotick stands to personally gain from significant financial advantages that are not directly linked to the Merger price. Given the Board’s own possible culpability and its choice to delegate negotiations to Kotick, it’s unsurprising that Activision seems to have gotten no compensation for any derivative claims it may have brought against its executives. The Board’s failure to recover – or even strive to realize — value for these derivative claims constitutes its own violation of fiduciary duty, separate and independent from the fairness of the Merger price and procedure.”

Just as a side note, Axios has a list of all the lawsuits and complaints filed so far, which is more than I believe we’ve covered – and we’ve covered a lot. There’s the California DFEH discrimination suit, the EEOC federal harassment suit, a class action suit, four shareholder lawsuits merged into two, four remaining Microsoft merger lawsuits (apparently four already dismissed), one other complaint like this one, and additional SEC and DOJ investigations. To be honest, it’s becoming difficult to keep track of everything.

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The “activision fired employees” is a new lawsuit that New York City just dropped against Activision-Blizzard. The company has been accused of violating the city’s minimum wage law and withholding overtime pay from its employees.

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