A minority shareholder in Ubisoft, led by Juraj Krúpa of AJ Investments, is planning a protest outside the company's Paris headquarters. They accuse Ubisoft of mismanagement and lack of transparency, particularly regarding alleged discussions with Microsoft, EA, and other publishers interested in acquiring its franchises. Krúpa criticized Ubisoft's management for not disclosing these talks and for failing to provide a clear recovery plan amid declining shareholder value and operational issues.

Krúpa also highlighted Ubisoft's lack of transparency in other areas, such as a reported partnership with Saudi investment firm Savvy Group for an Assassin's Creed Mirage DLC. Additionally, he referenced a restricted article from MergerMarket about potential acquisition discussions, which Ubisoft did not disclose to the public.

In October, Bloomberg reported exploratory talks between Ubisoft's founding Guillemot family and shareholder Tencent about taking the company private, following several high-profile flops and the collapse of Ubisoft's share price. Ubisoft told IGN they would inform the market if necessary.

Ubisoft has been struggling with numerous setbacks, including game delays, cancellations, and layoffs. Rumors persist about the board's strategic considerations, with some suggesting Tencent is hesitant to invest further due to the Guillemot family's desire to retain control.

Krúpa's statement also addressed the repeated delays of Assassin’s Creed Shadows, initially postponed from July 18, 2024, to November 15, 2024, and then again to March 20, 2025. These delays, according to Krúpa, led to significant stock declines, primarily affecting retail investors while benefiting corporate and institutional investors.

AJ Investments is rallying all frustrated shareholders to join the May protest, demanding transparency and accountability from Ubisoft's management. They are aware of Ubisoft's financial review of strategic options, advised by Goldman Sachs and JP Morgan, and expect results soon. If these results enhance shareholder value, the demonstration will be canceled. However, AJ Investments is prepared to sue Ubisoft for misleading investors if necessary.

This is not the first time AJ Investments has criticized Ubisoft. In September, following the disappointing launch of Star Wars Outlaws, they issued an open letter urging a leadership change and considering a sale of the company.