Yahoo Slapped With 2nd Suit By Miffed Shareholders

Law360, New York (February 22, 2008, 12:00 AM EST) -- Two public Detroit pension funds have initiated the second major putative class action against Yahoo! Inc. relating to its rejection of Microsoft Corp.'s $44.6 billion takeover bid, with the plaintiffs trying to stop the search-engine company's board from allegedly thwarting a reasonable offer.

The suit’s lead plaintiffs, the Police & Fire Retirement System of the City of Detroit and the General Retirement System of the City of Detroit, filed their complaint Thursday against Yahoo and its board or directors in Delaware state court.

Yahoo did not...
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