A Ubisoft shareholder plans to stage a protest outside the company's Paris offices after claiming the company failed to disclose meetings regarding a potential acquisition. As first reported by IGN, AJ Investments, which holds less than 1% of Ubisoft's shares, said that Ubisoft is "very poorly managed by the current management."
Additionally, CEO Juraj Krúpa said the company failed to disclose meetings with other stakeholders such as EA and Microsoft regarding the potential acquisition of Ubisoft IP.
Krúpa said the company did not "properly" communicate its plans or negotiations to shareholders. Because of this, he called on those "frustrated by the prolonged stagnation in Ubisoft's stock performance and the management team's lack of decisive action" to join their protests in May.
Krúpa added that AJ Investments is preparing to sue Ubisoft for "misleading investors." However, he added that they are aware that Ubisoft management is conducting a financial review of various strategic options and that Goldman Sachs and JPMorgan are advising it.
In a statement provided to IGN, Ubisoft reiterated its past messaging that the company is reviewing strategic and capitalistic options. Ubisoft said: "The Board of Directors has established an ad hoc independent committee to oversee this formal and competitive process in order to obtain the maximum value from Ubisoft's assets and IP for all stakeholders. Once the transaction is realized, Ubisoft will notify the market in accordance with applicable regulations."