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 Settles Shareholder Suit Over Severance Plan

Law360 (March 6, 2009, 12:00 AM EST) -- Search engine giant Yahoo Inc. will institute major changes to its employee severance plan, clearing a stumbling block shareholders believe was keeping the company from finalizing a profitable acquisition deal.

Judge William B. Chandler III of Delaware's Court of the Chancery approved a settlement on Friday, resolving allegations of breach of fiduciary trust in a class action brought by the Police and Fire Retirement System of the City of Detroit, following Yahoo's decision in 2008 to pass on a takeover bid from software rival Microsoft Corp....
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.