Voting

In Ap-Fonden v. Activision Blizzard, Inc., C.A. No. 2022-1001-KSJM, 2024 WL 863290 (Del. Ch. Feb. 29, 2024), the Delaware Court of Chancery declined to dismiss claims asserting that Activision Blizzard, Inc.’s (“Activision”) Board of Directors violated Section 251(b) of the Delaware General Corporation Law (“DGCL”) by approving a merger agreement with Microsoft Corp. that was allegedly incomplete. This decision, authored by Chancellor McCormick, underscores the need for boards to ensure that merger agreements meet statutory requirements before approval.