We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Yahoo Faces Shareholder Suits After Microsoft Bid

Law360 (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 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.