Samsung, SK Hynix Shares Plunge as China Chip Competition Grows 
Gold Prices Rebound as Dollar Weakens Ahead of US Inflation Data 
Elon Musk Donates $366 Million to 2026 US Midterms 
FAA Warns US Airlines Over Saudi Arabia Flight Risks 
European Auto Stocks Rise as EU-China Trade Deal Targets Hybrid Imports 
US Dollar Rises for Fourth Week as Fed Rate Hike Bets Grow 
Deutsche Bank CEO Urges Faster German Economic Reforms 
Canton Network Expands in South Korea With Major Partnerships 
Russia Approves Sberbank for Crypto Exchange Services 
Albertsons Seeks $9.3 Billion From Kroger Over Failed Merger 
Asian Currencies Steady as Dollar Nears 18-Month High Ahead of US CPI 
Oil Prices Surge Above $106 After Deadly Saudi Airport Attack 
South Korea Blocks 27 Crypto Exchange Websites in Regulatory Crackdown 
Samsung, SK Hynix Shares Fall as China's CXMT Advances DRAM Technology 
Global Stocks Mixed as Oil Falls Ahead of US Earnings 
Apple Supplier Luxshare Faces US Patent Probe, Sees Limited Impact 
Gold Prices Hit One-Week High as Oil Falls, Fed Rate Outlook Weighed 
Add as a preferred source on Google
Microsoft Corporation is trying to acquire Activision Blizzard video game company but the deal hit another roadblock after it was revealed that gamers have marched to a US court to file a lawsuit with the aim of stopping the merger.
On Tuesday this week, a private consumer sued in an effort to prevent Microsoft from taking over Activision Blizzard. The gamers claimed that the Washington-headquartered tech firm’s bid to buy the “Call of Duty” creator would unlawfully stamp down the competition in the video gaming business.
According to Reuters, the complaint filed the lawsuit at a federal court in California, and this comes just two weeks after the U.S. Federal Trade Commission (FTC) filed a similar case with the aim of breaking the acquisition deal as well. In this suit, an administrative law judge is seeking to block the Xbox console maker from completing the merger that has been said to be the largest ever in the video gaming market since the deal is worth $69 billion.
In any case, the latest proceeding is looking to impose an order that will stop Microsoft from buying Activision. It was filed by about 10 video game players in New Jersey, California, and New Mexico.
In their complaint, they said the merger would give the tech firm a “far-outsized market power in the video game industry.” They added that if the deal is successful, it will have the “ability to foreclose rivals, limit output, reduce consumer choice, raise prices, and further inhibit competition.”
The lawyer of the gamers, Joseph Saveri, said in a statement that “As the video game industry continues to grow and evolve, it is critical that we protect the market from monopolistic mergers that will harm consumers in the long run.”
Meanwhile, Microsoft’s representative could not be reached for comment after the gamers filed the lawsuit. It was noted that private plaintiffs could go after antitrust claims in the U.S. even while a government agency has a pending case related to it. Microsoft and Activision Blizzard first announced the takeover deal earlier this year, and many antitrust bodies have tried to stop it since then.
Photo by: Florian Olivo/Unsplash
