UPDATE: Activision has issued a press release about the settlement, and while it doesn't include much that we didn't already know, it does mention the settlement will "not have a material impact" on the company's bottom line.
In other words: we probably won't end up finding out very much from Activision's SEC filings.
"The company does not believe that the incremental one-time charges related to the settlement will result in a material impact on its GAAP or non-GAAP earnings per share outlook for the current quarter or the calendar year, due to stronger-than-expected operating performance in the current quarter."
The epic showdown in the courts between Activision, former Infinity Ward leaders Jason West and Vince Zampella, and nearly 40 employees who left after shipping Call of Duty: Modern Warfare 2 won't be happening.
The trial had been scheduled to start this week. Details on the settlement will not be released.
According to Fritz, West was seen smiling in the courtroom as the news was announced.
Activision had previously disclosed it had set aside one billion dollars for the case, if the outcome went against Activision in the worst possible way. It's unclear if Activision will have to disclose any part of the settlement in the future as part of being a publicly traded company. The settlement between Activision and Electronic Arts has also been kept under wraps.
I'm really bummed. Think of all the court documents related to lunches I could have looked up!