Microsoft-Activision Deal Settlement Paused Amid Merger Arbitrage Funds' Objections

A $250 million cash settlement to resolve a shareholder class action challenging Microsoft Corp.'s acquisition of Activision Blizzard Inc. has been put on hold by a Delaware judge.

The decision was made by Chancellor Kathaleen St. Jude McCormick, who stated that she needed time to consider objections brought by a group of merger arbitrage funds with pending parallel federal securities claims.

The case, Sjunde AP-Fonden v. Activision Blizzard, Inc., Del. Ch., No. 2022-1001, was set for settlement hearing on September 15, 2026.