Lawyers representing two public pension funds said late Monday they will broaden the scope of a consolidated class action lawsuit against Yahoo Inc. chief executive Jerry Yang and other members of the board to include "thwarting" the merger proposal by Microsoft Corp.
Bernstein Litowitz Berger & Grossmann LLP and Bouchard Margules & Friedlander, P.A. -- the court-appointed co-lead counsel for the proposed class of all shareholders in the suit against Sunnyvale-based Yahoo (Nasdaq: YHOO) -- said the suit is "to obtain redress for the Yahoo directors' breach of their fiduciary duties."
The case is pending in the Court of Chancery for the State of Delaware and plaintiffs are the Police & Fire Retirement System of the city of Detroit and the General Retirement System of the city of Detroit.
http://www.bizjournals.com/sacramento/stories/2008/05/05/daily27.html
Yahoo's going to need that $47.5 billion dollars to pay all of these plaintiffs
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