Mark Lebovitch Featured on Fox Business News Discussing Lawsuit against Yahoo!, Inc.
May 6, 2008
Fox Business News hosted Partner Mark Lebovitch in an extended interview to discuss BLB&G’s shareholder lawsuit against Yahoo!, Inc. filed on behalf of two Detroit Pension funds. The lawsuit was filed in the wake of the company’s rejection of Microsoft’s buy-out offer for $33 a share, or $47.5 billion.
During the segment, Mr. Lebovitch outlined the grounds for the lawsuit, arguing that Yahoo! did not act in good faith, nor for the benefit of its shareholders, when it crafted and adopted a severance plan that provided all its employees incentives to quit the company in the event of a change in control. According to Mr. Lebovitch, this “poison pill,” in connection with other defensive measures used by Yahoo!, was the primary reason why Microsoft withdrew its merger proposal, citing potentially excessive costs related to the severance plan.
Mr. Lebovitch is one of the partners primarily responsible for the Firm's corporate transaction litigation practice. In that role, he has helped to obtain for shareholders billions of dollars in additional consideration and significant corporate governance improvements by asserting breach of fiduciary duty claims arising from, among other things, the hostile takeover battles over Caremark Rx, Inc. and CBOT Holdings, Inc., the private equity buyout of Ceridian Corporation, the acquisition of Commerce Bancorp., and the going private proposal for Cablevision Systems Corporation. Mr. Lebovitch is a member of the Firm's subprime litigation team, which focuses on vindicating shareholder and consumer rights arising from the mortgage and mortgage-based security debt crisis, and is also a member of the teams prosecuting In re Suprema Specialties, Inc. Securities Litigation, and In re Omnicom Group, Inc. Securities Litigation.
Also of Interest
Mark Lebovitch and Gregory V. Varallo Quoted in Law360 article, "Delaware's Appeal For Firms Outshines Virus Uncertainty"
March 16, 2021
The New York Law Journal Names Mark Lebovitch Its 2019 “Attorney of the Year"
October 23, 2019
Law360 Names Mark Lebovitch a “Titan of the Plaintiffs Bar”
May 7, 2018
The National Law Journal Names Mark Lebovitch and Jeroen van Kwawegen 2018 Plaintiffs’ Lawyers Trailblazers
BLB&G Partner Mark Lebovitch Quoted in Fortune magazine on Business Roundtable’s Repudiation of Shareholder Primacy
BLB&G’s Mark Lebovitch Selected an Adviser on ALI’s “Restatement of the Law, Corporate Governance” Project
April 1, 2019
Press Coverage: Williams Companies Stockholder Litigation Trial Challenging Novel Anti-Shareholder Corporate Governance Provision
January 13, 2021
Two Views — Reopening Risk: What are the legal liabilities? by Mark Lebovitch published by Directors & Boards
BLB&G Opens New Delaware Office Led by Top Litigator and New Partner Greg Varallo
BLB&G Named A Top Securities Practice by Law360