The pension fund owns 13,600 YHOO shares through mutual fund investments so they are kind of stuck. Of course, this begs the question of why they do not go after the fund(s) but that is beyond my realm of knowledge.
I would also think that an implicit part of their thinking is that if YHOO does not take MSFT's offer, the market bump in the share price that was caused by the offer will go away and the shares will be trading at sub $20 again.
I would also think that an implicit part of their thinking is that if YHOO does not take MSFT's offer, the market bump in the share price that was caused by the offer will go away and the shares will be trading at sub $20 again.
Stephen Bainbridge has a good assessment of this and similar suits with additional info at: http://www.businessassociationsblog.com/lawandbusiness/comme...