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Short Take: Shareholder suits pending in AOL, Netscape deal

As Netscape Communications gears up to close its buyout deal by America Online, several shareholder lawsuits over the proposed transaction are still pending, according to documents filed with the Securities and Exchange Commission. The first lawsuit, filed in November 23, alleges Netscape and its directors breached their fiduciary duties by entering into an "unfair" and "inadequate" deal. The company believes the suits are without merit according to the filing.

As Netscape Communications gears up to close its buyout deal by America Online, several shareholder lawsuits over the proposed transaction are still pending, according to documents filed with the Securities and Exchange Commission. The first lawsuit, filed in November 23, alleges Netscape and its directors breached their fiduciary duties by entering into an "unfair" and "inadequate" deal. The company believes the suits are without merit according to the filing.