Microsoft to pay $250M to settle Activision deal litigation, Bloomberg says

Microsoft (MSFT) has agreed to pay $250M to settle investor litigation over its massive takeover Activision Blizzard, Bloomberg’s Mike Leonard reports, citing court filings. The pact, filed in Delaware’s Chancery Court, would settle allegations that Activision ex-CEO Bobby Kotick and other board members proffered a heavily discounted transaction to escape from the sexual misconduct scandal that had engulfed the “Call of Duty” maker, the author says. A judge allowed the case to move forward against Activision Blizzard last October, though she dismissed claims that Microsoft exploited the scandal to drive down the purchase price, the author notes.