Yahoo sued for rejecting Microsoft bid

[temi]

As expected, Yahoo has been sued by some of its shareholders for the way it handled Microsoft's bid.
Microsoft rejected Yahoo's $42 billion takeover bid.

 

[SkinnerW]

It's logical reaction after what happened with Enron and WorldCom. Small investors are too scared to loose everything because of the Big Boys games.

Now if amount of participants in this lawsuit will increase significantly Yahoo will be forced to accept takeover bid instead of spending own millions to settle with investors...

 

[temi]

There current lawsuit is on behalf of seven shareholders, that may well increase, already, Yahoo claims the lawsuit and Microsoft bid is distracting it from concentrating on managing the business effectively.

 

[Resonate]

Microsoft has hired a proxy solicitation group to help oust the 10 members of Yahoo's board, all of whom are up for re-election this year.

 

[amit87]

All these things happening were planned and organized.

 

[TeamPlayer]

This adds new meaning to the word `hostile` (takeover).