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Yahoo Investors Can't Rouse Alibaba Stock Suit In 9th Circ.

Law360 (July 12, 2018, 5:07 PM EDT) -- The Ninth Circuit refused Thursday to revive Yahoo Inc. investors' derivative shareholder suit alleging the company violated a deal with the U.S. Securities and Exchange Commission by purchasing stock in retail website Alibaba, saying the claims have no place in federal court.

A three-judge panel said in its published opinion that because Yahoo had a deal with the SEC that exempted the enterprise from registering as an investment company under the Investment Company Act of 1940, any potential violations of that agreement would have to be...
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