Lawsuit Filed Over Activision-Vivendi Merger

The Delaware News Journal is reporting that a lawsuit has been filed on behalf of Activision shareholders over the recent merger with Vivendi:

The deal will relegate shareholders of Santa Monica, Calif.-based Activision to an "unfavorable minority position," the Wayne County Employees' Retirement System said Feb. 8 in a complaint in Delaware Chancery Court in Wilmington.

"The merger, stock purchase and tender offer, working in concert, convey control of Activision to Vivendi but fail to offer the Activision stockholders an opportunity to realize a true control premium for their stock," lawyers for the Michigan- based system said in the complaint.

Keep an eye on this one.

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Doesn't the government have better things to do then this?

One would think, Teedle, one would think.