Greg Brockwell, the man who already has a suit against Yahoo, has a suit against Sirius, has had a suit against JDS Uniphase, Guidant, and others could have another class action suit to go after. Microsoft has pulled their offer to buy Yahoo, and now the CEO of Yahoo may well be on the hot seat, according to the AP, for rejecting a bid worth over $47 Billion. Greg Brockwell is already familiar with the players. He already has a suit against Yahoo. Then again, Mr. Brockwell may not want all of his litigious action to be well known at this point.
This could be a class action attorney's dream case! Was rejecting the Microsoft bid good or bad? The issue is subjective, and subjective issues make class action attorneys see dollar signs. Imagine all of the billable hours, requests for information, interrogatories, and depositions. It boils down to many $$$.
So what is all of this about? Well, I Covered part of it on Sirius Buzz Radio this past Thursday evening. If you missed the live show, you can catch it on replay by clicking the link. Additionally, we have published 2 articles in a six part series. The first article is Class Action Gone Bad? - You Be The Judge. The second segment in the series is Class Action Gone Bad - The Beginnings Of The Suit. So if you want to get up to speed give a listen to Sirius Buzz Radio, and read up on the six part series.
The question of the moment is whether Mr. Brockwell will file yet another class action suit. Personally, I think things are a bit too high profile at the moment, but one never knows.
Position - Long Sirius, Long XM, No Position Yahoo, Guidant, JDSU, Microsoft