Activision Investor Wins $2.5 Million in Fees in Microsoft Case

Attorneys representing an Activision Blizzard Inc. stockholder won a $2.5 million mootness fee award in Delaware Chancery Court in a case challenging the video game company’s $69 billion merger with Microsoft Corp.

Swedish-state owned pension fund Sjunde AP-fonden is justified in receiving the fee award because its lawsuit challenging the merger on certain statutory grounds ultimately resulted in its validation, Chancellor Kathaleen St. Jude McCormick said in a Friday ruling.

• The pension fund originally sued in 2022, alleging the transaction violated Delaware corporate law when Activision’s board members approved only a rough version of the merger agreement
• McCormick denied Activision’s ...