Thursday, July 20, 2006

Activison Sued By Shareholder

Santa Monica-based Activision has been sued by an individual claiming to be a shareholder, claiming that the firm improperly issued stock options. In a regulatory filing, Activision said that a complaint was filed on July 12th against the firm in Los Angeles Superior Court, purportedly on behalf of the Company, against certain current and former members of the Company's Board of Directors as well as several current and former officers of the Company. Activision said that it expects the defense expenses associated with the lawsuit will be covered by the firm's directors and officers insurance.