9th Circ. Affirms Dismissal Of Yahoo Derivative Suit

Law360, New York (October 25, 2010, 4:32 PM EDT) -- A federal appeals court has upheld the dismissal of a shareholder derivative suit accusing current and former Yahoo Inc. directors of purposely thwarting Microsoft Corp.'s $44.6 billion hostile takeover bid in 2008.

The U.S. Court of Appeals for the Ninth Circuit issued an opinion Thursday affirming the lower court's decision that a settlement in another case barred New Jersey synagogue Congregation Beth Aaron from bringing the claims.

The Delaware Court of Chancery approved a settlement in March 2009 releasing all claims against Yahoo's directors for actions...
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