- A private consumer lawsuit alleged Microsoft Corp (NASDAQ:MSFT) – Activision Blizzard, Inc (NASDAQ:ATVI) deal of unlawfully stifling competition in the video game industry.
- The California federal court lawsuit followed the U.S. Federal Trade Commission suit seeking to stop Microsoft, owner of the Xbox console, from completing the largest-ever acquisition in the video-gaming market, Reuters reports.
- The private lawsuit on behalf of 10 video game players in California, New Mexico, and New Jersey also sought an order blocking Microsoft from acquiring Activision.
- The proposed deal would give Microsoft far-outsized market power in the video game industry, the complaint alleged, with the ability to foreclose rivals, limit output, reduce consumer choice, raise prices, and further inhibit competition.
- The takeover also faced antitrust scrutiny in the European Union to stop Microsoft from gaining control over a leading independent game studio.
- The EU alleged the deal of harming competition among rival gaming platforms from Nintendo Co, Ltd (OTC:NTDOF) (OTC:NTDOY) and Sony Group Corp (NYSE:SONY)
- Price Action: MSFT shares traded higher by 0.41% at $242.79 premarket on the last check Wednesday.
See How Florida’s Much Awaited Medicaid Re-Procurement Awards Impact Centene, Humana, Molina
Florida announces Medicaid contract awards to Centene, Elevance Health, and Humana, sidelining UnitedHealth, CVS Health, and Molina. Details on MMA and LTC services for over 3.4 million Floridians enrolled.
