Shareholders claim Gary Lynch, executive vice president and chief legal officer of Morgan Stanley, inflated share price or allowed it to be inflated through false and misleading statements, from July 10 to Nov. 7, 2007, in Los Angeles Federal Court.
Two shareholder class-actions claim Yahoo! directors’ rejection of Microsoft’s $44.6 billion buyout was done to entrench and enrich themselves unjustly, while Yahoo! stock price languishes, in Delaware Chancery Court.
Directors of National City Corp. misled the market about National City’s exposure to subprime mortgage lending while having the company repurchase $3.4 billion of its own shares at inflated prices, shareholders claim in Cuyahoga County Court, Cleveland. Also sued are Jon E. Barfield, James S. Broadhurst, Christopher M. Connor, Bernadine P. Healy MD, Jeffrey D. Kelly, Allen H. Koranda, Michael B. McAllister, Paul A. Ormond, Peter E. Raskind, Gerald L. Shaheen, Jerry Sue Thornton, Morry Weiss, and David A. Daberko.