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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.