This excerpt taken from the ATVI 8-K filed Jul 19, 2006.
Vazquez v. Kotick, et. al, which was filed on July 12, 2006, alleges, among other things, purported improprieties in the Companys issuance of stock options. The Company is reviewing the allegations in the complaint and will respond appropriately. The Company expects that defense expenses associated with the matter will be covered by its directors and officers insurance, subject to the terms and conditions of the applicable policies.
The Company does not intend to file further current reports on Form 8-K describing additional lawsuits, if any, which are based on allegations substantially similar to those contained in the complaint described herein.