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ACTIVISION TO SETTLE SHAREHOLDERS’ CLASS ACTION SUIT

Video games software specialist Activision Inc, Mountain View, California has agreed in principle to settle the 1983 class action suit brought by shareholders for $2.5m in cash and $2.25m in securities: Activision says it still thinks the charges are without merit, but wants to avoid the cost and diversion of management attention that would be required by a four-month jury trial; Activision’s share of the settlement will be in stock only to conserve its cash; the settlement will hurt Activision’s figures for the third quarter to January 3 and its year to March.

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CBR Staff Writer

CBR Online legacy content.