Yahoo said it faces seven shareholder lawsuits over its handling of Microsoft's unsolicited $42 billion buyout proposal.
Four of the lawsuits were filed in California Superior Court, and three were filed in Delaware Chancery Court, Yahoo said in a filing with the US Securities and Exchange Commission.
The company said it does not believe the cases will affect its financial position.
Yahoo rebuffed Microsoft's offer, which represented a 62 per cent premium of its share price, when it was announced on February 1st, saying it significantly undervalued the company's audience, advertising platform and investment holdings.
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The company called the Microsoft bid a "significant distraction" for management and employees.
