Microsoft Faces Class Action Over Greenfield Merger

Law360, New York (September 19, 2008, 12:00 AM EDT) -- A shareholder of Internet company Greenfield Online Inc. has filed a class action claiming that the company's proposed $486 million merger with software giant Microsoft Corp. is unfair and inequitable.

The action, announced by Microsoft in a filing Thursday with the U.S. Securities and Exchange Commission, alleges the sale of Greenfield through Microsoft's wholly-owned subsidiary Crisp Acquisition Corp. constituted a breach of fiduciary duties by Greenfield's directors.

Under the terms of the merger agreement, Crisp will buy the majority of Greenfield's outstanding shares at $17.50 per...
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