In Re: Activision Blizzard, Inc. Stockholder Litigation

This matter involved a stockholder class and derivative action against certain current and former members of the Board of Directors (the “Board”) of Activision Blizzard, Inc. (“Activision” or the “Company”) , Activision’s former majority stockholder Vivendi S.A. (“Vivendi”), and certain investment vehicles, ASAC II LP (“ASAC”) and ASAC II LLC (“ASAC GP”), created by the Company’s long-time Chief Executive Officer and Director, Robert A. Kotick, and the Company’s Co-Chairman, Brian G. Kelly, concerning Activision’s repurchase of shares from Vivendi and sale of shares to ASAC. Plaintiffs alleged that Defendants abused their authority and made improper threats in aid of an $8.2 billion transaction that served their mutual interests but deprived Activision’s stockholders of the valuable opportunity to repurchase control of the Company and deprived Activision of wealth that Kotick and Kelly captured for themselves. Compass Lexecon President Professor Daniel R. Fischel was retained as an expert witness by all of the defendants; Compass Lexecon affiliate Professor Kenneth Lehn was retained as an expert by Vivendi, and Compass Lexecon Senior Consultant Professor Bradford Cornell was retained as a rebuttal expert by Kotick and Kelly. Vivendi was represented by Michael Farhang and others of Gibson, Dunn & Crutcher LLP; the ASAC defendants were represented by Bob Sacks, Bill Wagener, and Diane McGimsey of Sullivan & Cromwell LLP; Activision was represented by Ed Welch, Ed Michelleti and others of Skadden, Arps, Slate, Meagher & Flom LLP; and the Special Committee was represented by Bill Savitt and others of Wachtell, Lipton, Rosen & Katz. The parties entered into a settlement agreement after expert depositions were completed and prior to trial. Professor Fischel was supported by David Ross, Jonathan Polonsky and others in our Chicago office. Professor Lehn was supported by Ralph Scholten in our DC office, and Rahul Sekhar and others in our Chicago office. Professor Cornell was supported by Peter Clayburgh, James Tam, May Huang and others in our Pasadena office.