Yahoo's Snub of Microsoft Elicits Shareholder Suit

Law360, New York (February 13, 2008, 12:00 AM EST) -- Internet giant Yahoo Inc. has reportedly been hit with a shareholder lawsuit challenging the company's rejection of Microsoft Corp.'s hostile $44.6 billion bid.

A Michigan pension fund, which owns about 13,600 shares in Yahoo, has asked a Delaware state court to issue an order forcing Yahoo to consider takeover offers, according to Bloomberg.

The lawsuit, reportedly filed by The Miller Law Firm of Rochester, Mich., on behalf of the Wayne County Employees' Retirement System, was lodged in Delaware's Chancery Court on Monday, only hours after Yahoo...
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