Yahoo confirmed early Monday morning that it is buying Tumblr in a deal worth about $1.1 billion. "Per the agreement and our promise not to screw it up, Tumblr will be independently operated as a separate business," Yahoo added.
In its statement announcing the deal, Yahoo says that:
Protesters participate in a rally near the federal courthouse March 18 in New York. Lawyers for four men who say they were illegally stopped said many of the 5 million people stopped, questioned and sometimes frisked by police in the past decade were wrongly targeted because of their race.
Closing arguments are set to take place Monday in the federal class action trial involving New York City's stop-and-frisk policy. The trial has been going on for two months in Manhattan.
Plaintiffs in Floyd v. City of New York claim the New York Police Department, its supervisors and its union pressured police officers to stop, question and frisk hundreds of thousands of people each year, even establishing quotas. They argue that 88 percent of the stops involved blacks and Hispanics, mostly men, and were in fact a form of racial profiling.