Shareholder Suit Over Microsoft's Yahoo Bid Nixed

Law360, New York (June 17, 2009, 12:00 AM EDT) -- A shareholder derivative lawsuit accusing current and former Yahoo Inc. directors of purposely thwarting Microsoft Corp.'s $44.6 billion hostile takeover bid for the online search engine in 2008 has been dismissed.

Judge Ronald M. Whyte of the U.S. District Court for the Northern District of California on Monday ruled that a settlement in a similar action in Delaware state court prevented the plaintiff from bringing the claims and dismissed the suit with prejudice.

Plaintiff Congregation Beth Aaron, which owns 300 shares of Yahoo common stock, brought...
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