Blog Post

Yahoo Slapped With Another Suit Over Microsoft; Also From Detroit

Yahoo (NSDQ: YHOO) has been hit with its second shareholder lawsuit since its initial rejection of $44.6 billion bid. This time, its brought by two Detroit-based pension funds, one representing firefighters and police and another representing other public employees. The complaint, seen by MarketWatch, alleges that the company acted in bad faith by rejecting Microsoft’s (NSDQ: MSFT) bid and that it has been pursuing “value destructive” deals with third parties. Interestingly, both of the suits came from the same area, as the first was from the Wayne County Employee