SAN FRANCISCO — Lawyers for Yahoo Inc. have snuffed out shareholder derivative claims over the company’s alleged mishandling of its interest in Alibaba-owned payment processor Alipay.
There’s no evidence that Yahoo directors failed to conduct due diligence with regard to the 2011 divestiture of Alipay, ruled U.S. District Judge Charles Breyer of the Northern District of California. Breyer granted Yahoo’s motion to dismiss in its entirety last week, without giving plaintiffs leave to amend.
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