Investors bought into funds promising pre-IPO shares, expecting big paydays. For some, it wasn’t so simple. Our readers share what they’ve learned about the risks.
If your Halloween plans involve staying home, turning off the lights, and playing Xbox, Microsoft has picked an awfully good weekend for Free Play Days. 🎃
There are some seriously appropriate games in this week’s lineup, including a couple of names that horror fans will immediately recognize.
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NEW: SHAREHOLDER LAWYERS IN THE $75.4 BILLION MICROSOFT–ACTIVISION DEAL ARE ASKING DELAWARE FOR A $60 MILLION FEE.
The proposed settlement is $250 million — roughly $0.30 per eligible Activision share — and the lawyers are seeking 24% of it. Bloomberg Law says a $60 million award would rank among Delaware’s largest attorney paydays.
Microsoft is funding 40% of the settlement, with D&O insurance covering the rest. No wrongdoing was admitted. Chancellor Kathaleen McCormick is scheduled to consider final approval tomorrow, Sept. 15.
A $250M settlement. A $60M fee request. The hearing puts Delaware’s increasingly scrutinized economics of shareholder litigation back in the spotlight.