ACTIVISION BLIZZARD, INC. v. HAYES

No. 497, 2013.

106 A.3d 1029 (2013)

ACTIVISION BLIZZARD, INC., Philippe G.H. Capron, Jean-Yves Charlier, Robert J. Corti, Frederic R. Crepin, Jean-Francois Dubos, Lucian Grainge, Brian G. Kelly, Robert A. Kotick, Robert J. Morgado, Richard Sarnoff, Regis Turrini, Vivendi, S.A., ASAC II LP and ASAC II LLC, Defendants Below, Appellants, v. Douglas M. HAYES, on behalf of Himself and all Others Similarly Situated and Derivatively on Behalf of Nominal Defendant Activision Blizzard, Inc., Plaintiff Below, Appellee.

Supreme Court of Delaware.

Decided: November 15, 2013.


Attorney(s) appearing for the Case

Collins J. Seitz, Jr., Esquire , Garrett B. Moritz, Esquire , Anthony A. Rickey, Esquire , Seitz Ross Aronstam & Moritz LLP, Wilmington, Delaware for Appellants Robert J. Corti, Robert J. Morgado and Richard Sarnoff.

Of Counsel: William Savitt, Esquire (argued), Kevin S. Schwartz, Esquire , Ryan A. McLeod, Esquire , Anitha Reddy, Esquire , Wachtell, Lipton, Rosen & Katz, New York, New York.

Raymond J. DiCamillo, Esquire , Scott W. Perkins, Esquire , Richards, Layton & Finger, P.A., Wilmington, Delaware for Appellants Vivendi S.A., Philippe G.H. Capron, Jean-Yves Charlier, Frederic R. Crepin, Jean-Francois Dubos, Lucian Grainge and Regis Turrini.

Of Counsel: Joel A. Feuer, Esquire and Michael M. Farhang, Esquire , Gibson, Dunn & Crutcher LLP, Los Angeles, California.

Edward P. Welch, Esquire , Edward B. Micheletti, Esquire , Sarah Runnells Martin, Esquire and Lori W. Will, Esquire , Skadden, Arps, Slate, Meagher & Flom LLP, Wilmington, Delaware for Appellant Activision Blizzard, Inc.

R. Judson Scaggs, Jr., Esquire , Angela C. Whitesell, Esquire , Morris, Nichols, Arsht & Tunnell LLP, Wilmington, Delaware for Appellants Brian G. Kelly, Robert A. Kotick, ASAC II LP and ASAC II LLC.

Of Counsel: Robert A. Sacks, Esquire and Diane L. McGimsey, Esquire , Sullivan & Cromwell LLP, Los Angeles, California.

Michael Hanrahan, Esquire (argued), Gary F. Traynor, Esquire , Paul A. Fioravanti, Jr., Esquire , Patrick W. Flavin, Esquire and Eric J. Juray, Esquire , Prickett, Jones, & Elliott, P.A., Wilmington, Delaware for Appellee Douglas M. Hayes.

Of Counsel: Marc A. Topaz, Esquire , Eric L. Zagar, Esquire , Robin Winchester, Esquire and Matthew A. Goldstein, Esquire , Kessler Topaz Meltzer & Check LLP, Radnor, Pennsylvania.

Before STEELE, Chief Justice, HOLLAND, BERGER, JACOBS and RIDGELY, Justices, constituting the Court en Banc.


This is an interlocutory appeal from entry, by the Court of Chancery, of a preliminary injunction halting consummation of a stock purchase agreement under which Vivendi, S.A. would have divested itself of its controlling interest in Activision Blizzard, Inc. Appellee, an Activision stockholder, convinced the trial court that the...

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