Yahoo Faces Shareholder Suits After Microsoft Bid

Law360, New York (February 28, 2008, 12:00 AM EST) -- Yahoo Inc. has been named a defendant in seven separate proposed class actions related to Microsoft Corp.’s hostile $44.6 billion takeover bid earlier this month.

Four shareholder lawsuits have been filed in California Superior Court and three in the Court of Chancery of the State of Delaware since the Yahoo board of directors rejected the Microsoft's bid on Feb. 1, according to the company’s annual report filed with the U.S. Securities and Exchange Commission.

Yahoo did not immediately return a request for comment Thursday.

The Delaware...
To view the full article, register now.

Law360 UK

UK Financial Services

Read Our Latest UK Legal News & Analysis

Financial Services Law360 UK and Insurance Law360 UK provide breaking news and in-depth analysis on U.K. and European Union regulation, enforcement, legislation, and litigation involving banks, investment firms, insurers, and more.