Yahoo Sued 7 Times Over MS Bid

Yahoo Sued 7 Times Over MS Bid

Friday, February 29, 2008 - by Chad Weirick
Yahoo's rejection of Microsoft's $44.6 billion buyout offer has stirred up a lot of controversy and even more lawsuits than we reported earlier this week.

Yahoo's board of directors claim that the offer isn't sufficient, while Microsoft is of the opinion that anything above and beyond $44.6 billion is too much and it'd be more efficient to start buying stock in preparation for a hostile takeover.   Neither company has budged publicly, but Yahoo shareholders are up in arms according to a recent filing Yahoo provided the Securities and Exchange.

“The impasse has triggered four shareholder suits in California's Santa Clara County Superior Court. Three other complaints have been filed in Delaware by pension funds that own Yahoo's stock.

Five of the suits allege Yahoo's board breached its duty by spurning Microsoft without trying to negotiate a better deal, according to the annual report. The two other suits allege Yahoo unfairly favored Microsoft's "inadequate" bid even though the board eventually turned down the original cash-and-stock offer of $31 per share.”
Via: Sydney Morning Herald | News Archive | Tags: Yahoo, IM, MS, Sue, id
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By on Feb 29, 2008

I admit if I had a few thousand shares of yahoo stock and I could of made a HUGE profit but got shutdown Id be pretty ticked off. wouldnt you. heh

By Crisis Causer on Feb 29, 2008

I guess I'd be kind mad too... but business shouldn't be governed by the courts - which is what a lawsuit has to do with. 

By kid007 on Mar 1, 2008

every shareholders have the right to build a case, know if the board of director of yahoo are not listening to the shareholders they should all be fired!

MS and the end of the day would buy yahoo! and guess what it won't be as productive as Google. I'm sorry most of you guys know i'm a true believer of MS but fighting against google is making is giving them free advertising and letting everyone know that google is the place to search and the place to be found!
Google stock is $471.18

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