Yahoo Lawsuits Hit Seven

The number of shareholder lawsuits targeting Yahoo over its rejection of Microsoft’s takeover offer now stands at seven.

According to Reuters, four of the lawsuits were filed in the California Superior Court and three were filed in the Delaware Chancery Court.

Yahoo said in a statement to the SEC that they “do not believe, based on current knowledge, that any of the foregoing legal proceedings or claims are likely to have a material adverse effect on our financial position.”

Yahoo is obviously confident of a positive outcome, however seven separate lawsuits would indicate that others may disagree.

See our previous coverage of Yahoo lawsuits here and here.