Delaware Chancellor Dismisses Shareholder Challenge to Activision-Vivendi Merger — Again

Finding that an appropriate claim was not stated under the Delaware Supreme Court's recent Lynondell precedent, Delaware Chancellor William Chandler III has dismissed an amended complaint by the Wayne County Employees' Retirement System, which is seeking to halt a merger between Activision and Vivendi Games. One of Activision's lawyers, Skadden's Ed Micheletti, told The Am Law Litigation Daily that this case is the first in which the Lyondell analysis has been applied.