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.
The company called the Microsoft bid a "significant distraction" for management and employees.
