DEL.Court order
Delaware Chancery approves $250 million Microsoft–Activision settlement, awards $60 million in fees
Delaware Chancellor Kathaleen St. Jude McCormick on October 23, 2026, gave final approval to a $250 million settlement of stockholder class claims over Microsoft's $75.4 billion acquisition of Activision Blizzard. She overruled merger arbitrage funds that sought to carve their parallel federal securities claims out of the release, and awarded plaintiffs' counsel $60 million in attorney fees.
Order (Bloomberg Law) → · Law360
Key points
- The $250 million cash settlement resolves a stockholder class action challenging Microsoft's $75.4 billion purchase of Activision Blizzard.Bloomberg LawLaw360
- Objecting merger arbitrage funds wanted their pending federal securities claims excluded from the settlement release.Bloomberg LawLaw360
- McCormick said carving out those claims would upend the settlement and deprive class members of its benefits.Bloomberg Law
- Plaintiffs' counsel received $60 million in attorney fees.Law360
- McCormick, the Court of Chancery's chief judge, set out her reasoning in a 42-page ruling.Bloomberg Law