Published
July 24, 2026
This $250 million settlement resolves Delaware shareholder claims over Microsoft's $95-per-share buyout of Activision Blizzard — if you still held Activision (ATVI) stock when the deal closed on October 13, 2023, you are set to receive about $0.30 per share automatically, with no claim form to file.
What Is the Activision Blizzard Shareholder Settlement About?
If you owned Activision Blizzard stock when Microsoft bought the company in October 2023, you may be in line for an automatic payment from a $250 million shareholder settlement. Here is what happened and what it means for you, in plain English.The case is Sjunde AP-Fonden v. Activision Blizzard, Inc., C.A. No. 2022-1001-KSJM, in the Court of Chancery of the State of Delaware. The plaintiff — a Swedish national pension fund that owned Activision shares — sued Activision, its directors, and Microsoft over how Microsoft's $95.00-per-share acquisition of Activision was negotiated, approved, and disclosed. To end the litigation, the entity defendants agreed to place $250,000,000 in cash into a settlement fund. Activision, Microsoft, and the directors deny all of the allegations, and no court has found anyone did anything wrong — the settlement is a compromise that ends the case and delivers a guaranteed cash recovery to eligible shareholders.
Status
Pending Court Approval
settlement hearing September 15, 2026 · payments follow once the judgment is final
Objection Deadline
August 31, 2026
non-opt-out class — you cannot exclude yourself, but you may object
Estimated Payout
~$0.30 per eligible share
$250,000,000 all-in fund · automatic per-share payment · on top of the $95.00/share already paid at closing
Proof Required
Automatic Payment
no claim form to file — paid through your broker (DTC) or directly to registered record holders
What Was the Microsoft–Activision Merger?
On January 18, 2022, Activision Blizzard and Microsoft announced that Microsoft would acquire Activision — the maker of games such as Call of Duty, World of Warcraft, and Candy Crush — in an all-cash deal at $95.00 per share. Activision shareholders approved the merger agreement at a special meeting on April 28, 2022, and after a long regulatory review, the deal closed on October 13, 2023. At closing, each share of Activision common stock was converted into the right to receive $95.00 in cash, and Activision (which had traded on NASDAQ under the ticker ATVI) was delisted and became part of Microsoft.While the merger was pending, shareholders also received $1.46 per share in ordinary dividends. This $250 million settlement is separate money — an additional payment on top of the $95.00 merger price and those dividends.
What Kind of Lawsuit Is This?
This is a stockholder class action filed in the Delaware Court of Chancery — the specialized court that handles disputes about how Delaware corporations and their boards behave, including mergers and buyouts. Unlike a typical federal securities-fraud case built on a stock-price drop, this case is about Delaware corporate law: whether the board and the buyer followed the rules of the state's corporate statute in negotiating, approving, and disclosing the deal.A settlement means the defendants agreed to pay to resolve those claims rather than continue to trial. The Court has not decided who was right; it will hold a hearing to decide whether the settlement is fair before any money is distributed.
What Did the Lawsuit Allege?
The plaintiff alleged that Activision's directors and Microsoft mishandled parts of the deal, including claims that they:• allegedly violated provisions of the Delaware General Corporation Law in the negotiation, approval, and disclosure of the merger and merger agreement;
• allegedly breached fiduciary duties owed to shareholders in approving the merger and a later letter agreement that extended the deal's deadline;
• allegedly caused Activision to pay an improper special $0.99-per-share dividend in 2023; and
• allegedly closed the merger by filing a defective merger certificate with the Delaware Secretary of State.
The plaintiff also alleged Microsoft aided and abetted the directors' claimed breaches. Along the way, the Court dismissed several of these theories, and the defendants denied — and continue to deny — all of the remaining allegations. Nothing in the settlement is an admission of wrongdoing, and the recitals in the settlement documents note that California civil-rights allegations that had featured in early media coverage of Activision were later withdrawn and were never substantiated by any court or independent investigation. In short, these are allegations that were never proven.
Do I Qualify — and Will I Actually Be Paid?
There are two related but different questions here, and the distinction matters.You are a member of the Class if you owned Activision common stock (or any interest in it) at any time from January 18, 2022 through October 13, 2023. Class members are bound by the settlement and give up the right to sue over these claims.
But money is paid only to Eligible Shareholders — the people and entities who still held Activision shares at the October 13, 2023 closing, when those shares were converted into the right to receive the $95.00 merger consideration. If you bought Activision stock during that window but sold before the deal closed, you are a class member but you do not receive a payment. If you held all the way through the closing, you are eligible. As the notice puts it, simply receiving the notice does not necessarily mean you are owed money.
Activision and its affiliates, the directors, and other defendants and their immediate families are excluded.
How Much Will You Get?
The total settlement is $250,000,000 in cash, described as an all-in amount that also covers attorneys' fees, expenses, and administration costs. Court-appointed counsel will ask the Court to approve a fee and expense award paid out of the fund; whatever the Court approves is deducted before shareholders are paid, along with taxes and administrative costs. Class members are not personally responsible for those fees.The mediator's proposal and the settlement notice describe the recovery as approximately $0.30 per share for eligible shareholders. Your payment is calculated on a per-share basis: the net fund is divided by the total number of eligible shares to set a per-share recovery, and you receive that amount multiplied by your eligible shares. This is in addition to the $95.00 per share you received at closing and the $1.46 in dividends paid while the deal was pending.
Do I Need to File a Claim?
No. There is no claim form and nothing to fill out. Payments are automatic once the settlement is final. The administrator uses records from the Depository Trust Company (DTC) — the system that settled the merger payments — to route money to brokerage firms, who then pass each eligible beneficial owner's share down to them, similar to how the original $95.00 merger payment reached your account. If you held shares directly as a registered record holder, the administrator pays you directly.Because there is no claim form, the most important thing you can do is make sure the broker or transfer agent that handled your Activision shares has your current address and payment details. If a check is returned or goes uncashed past its stale date, the broker or record holder follows its own policies on re-issuing or escheating the funds.
Can I Opt Out or Object?
You cannot opt out. The Court certified a non-opt-out class under Delaware Court of Chancery Rules 23(a), 23(b)(1), and 23(b)(2), which means every class member is bound and no one can exclude themselves to sue separately.You can object if you disagree with the settlement, the plan of allocation, or the requested attorneys' fees. To do that, you must file a written, signed objection — with proof that you are a class member and the reasons for your objection — with the Register in Chancery, and serve it on the listed counsel, so it is received no later than August 31, 2026 (ten business days before the hearing). The Court will hold its settlement hearing on September 15, 2026 at 11:00 a.m. at the Leonard L. Williams Justice Center in Wilmington, Delaware. If you do nothing, you do not need to take any step to receive your automatic payment.
Key Activision Blizzard Settlement Dates
• Class Period: January 18, 2022 through October 13, 2023
• Objection deadline: August 31, 2026 (file and serve so it is received by this date)
• Settlement Hearing: September 15, 2026 at 11:00 a.m., Court of Chancery, Wilmington, Delaware
• Payment: automatic, after the judgment becomes final — no claim form
Watch Out for Settlement Scams
Because this is a no-claim-form settlement, no legitimate party will ever ask you to pay a fee or hand over sensitive account credentials to "release" your payment. Keep these in mind:• Use the official settlement website only: ActivisionBlizzardStockholderLitigation.com. Be wary of look-alike domains in emails or texts.
• Never pay a fee. Class action settlements do not charge an activation, release, or processing fee to send you your money.
• You do not need to submit a claim. Anyone telling you to "file now to get paid" for this settlement is misinformed or running a scam — payment here is automatic.
Frequently Asked Questions About the Activision Blizzard Settlement
How much will I get from the Activision Blizzard shareholder settlement?
The settlement fund is $250,000,000, which works out to roughly $0.30 per eligible share. That amount is on top of the $95.00 per share in merger consideration and the $1.46 in ordinary dividends shareholders already received while the deal was pending. Your actual payment depends on how many eligible shares you held at the October 13, 2023 closing, and is reduced by court-approved attorneys' fees, expenses, and administration costs, which come out of the fund.
Do I need to file a claim for the Activision Blizzard settlement?
No. Payments are automatic — there is no claim form to submit and no action required. After the settlement becomes final, the administrator distributes the net fund on a per-share basis. If you held your shares through a brokerage, the money flows through the Depository Trust Company (DTC) and your broker; if you held shares directly as a registered record holder, the administrator pays you directly.
Who actually receives money from the settlement?
Only shareholders who still held Activision common stock at the October 13, 2023 closing, when their shares converted into the right to receive the $95.00 per share merger consideration, receive a payment. Being a member of the Class (anyone who owned the stock at any point from January 18, 2022 through October 13, 2023) makes you bound by the settlement, but if you sold before the closing you do not receive proceeds. Receiving the notice does not by itself mean you are owed money.
Can I opt out of the Activision Blizzard settlement?
No. This is a non-opt-out class certified under Delaware Court of Chancery Rules 23(b)(1) and 23(b)(2), so class members cannot exclude themselves. You may object to the settlement if you file a written objection with the Register in Chancery by August 31, 2026. The Court will consider the settlement at a hearing on September 15, 2026.
What was the Activision Blizzard lawsuit about?
The lawsuit, brought in the Delaware Court of Chancery, alleged that Activision's directors and Microsoft cut corners in negotiating, approving, and disclosing Microsoft's $95.00-per-share acquisition of Activision, including alleged violations of Delaware corporate law over the merger vote, a special $0.99 dividend, and the merger certificate filed with the state. The defendants deny all of the allegations, and the settlement is a compromise with no admission of wrongdoing by anyone.
Sources
• Notice of Pendency and Proposed Settlement of Class Action, Sjunde AP-Fonden v. Activision Blizzard, Inc., C.A. No. 2022-1001-KSJM (Del. Ch.), dated July 17, 2026• Stipulation and Agreement of Settlement, Compromise and Release, dated May 21, 2026
• Official Settlement Website: ActivisionBlizzardStockholderLitigation.com
• Plaintiff's Counsel: Prickett, Jones & Elliott, P.A.; Kessler Topaz Meltzer & Check, LLP
• Settlement Administrator: A.B. Data, Ltd.
A Note on This Settlement
The official settlement website is the authoritative source for the exact payment terms, dates, and distribution details. OpenClassActions.com is a consumer news site and is not the settlement administrator, class counsel, or a law firm, and we do not process or decide payments. If you are unsure whether you held eligible shares at the closing, check your brokerage records or contact your broker.
Settlement Amount
$250,000,000 (all-in)
Case Title
Sjunde AP-Fonden v. Activision Blizzard, Inc.
Case Number
C.A. No. 2022-1001-KSJM
Court
Court of Chancery of the State of Delaware
Class Period
January 18, 2022 – October 13, 2023
Objection Deadline
August 31, 2026
Settlement Hearing
September 15, 2026 at 11:00 a.m.
Leonard L. Williams Justice Center, Wilmington, Delaware
Plaintiff's Counsel
Prickett, Jones & Elliott, P.A.; Kessler Topaz Meltzer & Check, LLP
Administrator
A.B. Data, Ltd.
Official Website
Activision Blizzard Stockholder Litigation.com
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