If Microsoft’s public response to Yahoo! turning down their acquisition deal was supposed to rile up Yahoo! shareholders it looks like it worked.
A group of Yahoo! investors have jointly filed suit against Yahoo! claiming that the company failed to enter into substantial negotiations with Microsoft before rejecting the deal.
This suit joins a previously filed class-action suit against Yahoo! for quietly turning down a Microsoft buyout offer last year, alleging that the offer was turned down so that he board members could hold on to their cushy salaries.
No comment from Yahoo.
[Via CNET News]
Filed under: tech | Tagged: acquisition, buyout, lawsuit, microsoft, shareholder, suit, takeover, yahoo
