In Thursday's edition of the Daily Debrief, I chat with CNET News.com Editor in Chief Dan Farber about the state of Yahoo. Company news seems to emerge on a daily basis, but what does it all really mean? Farber, who has his finger on the pulse of the company, explains that at least personnel-wise, the search giant has been in a state of turmoil for the last year and a half.
Yahoo on Wednesday said it plans to ask the court to dismiss an amended shareholders lawsuit and noted it would also oppose the plaintiffs' motion to seek a speedy trial to invalidate its employee severance plans.
In its filing to Delaware Chancery Court Chancellor William Chandler, Yahoo states:
We strongly disagree with Plaintiff's statements made in support of their Motion for a Trial Date (and supplemental letter) in connection with Yahoo!'s Change in Control Employee Severance Plans. It is obvious that Plaintiffs devoted much time in preparing their submissions in support of the Motion. We intend to oppose … Read more
In a move to add more grist to the mill, an attorney representing Yahoo shareholders dished up more material to support a call for a speedy hearing date on the company's controversial employee severance plans, according to a letter sent Wednesday morning to the judge overseeing the shareholders lawsuit.
Plaintiffs in the shareholders lawsuit are asking the judge to set a trial date to invalidate the severance plans, prior to Yahoo's annual shareholders meeting on August 1.
That's … Read more
Billionaire investor Carl Icahn has issued a warning to Yahoo's board of directors, mouthing the ever-fearful two words: "personally liable."
Icahn told Reuters on Tuesday that Yahoo directors may be held personally liable for signing off on the company's controversial employee-severance plans. That plan, as previously reported, could financially hamstring Icahn's dissident slate if it is successful in unseating Yahoo's board and taking a majority of the board seats.
"If they continue with this line, I believe they (the board) may be personally liable," Icahn told Reuters after speaking to the New … Read more
Yahoo offered up a little clarity Tuesday on its controversial employee severance plan and how things could play out should major investor Carl Icahn win his proxy fight to unseat Yahoo's current board.
Under Yahoo's employee severance plan, as previously reported, Icahn's proxy fight would set the stage for triggering the severance plan if he wins a majority of the board seats with his dissident directors at the annual meeting on August 1.
The plan would then kick into action should the new dissident Yahoo board terminate an employee or greatly change their duties and responsibilities, prompting … Read more
Updated June 10 at 6:23 a.m. PDT with information from the brief.
Those involved with the suit, filed in the Delaware Chancery Court, are hoping to invalidate the severance package, which, in turn, could assist major Yahoo investor Carl Icahn in his proxy battle to unseat Yahoo's current board of directors.
The first part of the employee severance package is triggered if there is a change of control, which would occur … Read more
Yahoo has virtually all the antitrust information it needs to know to make a decision on whether to proceed with a Google ad outsourcing deal that would pass muster with antitrust regulators, but it has only begun to explore that issue for a scaled-down Microsoft agreement, according to sources.
As a result, any deal that calls for Yahoo to turn over its search business to Microsoft is not on the immediate horizon, noted one source familiar with the talks.
Two weeks ago, Yahoo began to internally explore the antitrust ramifications of a scaled-back Microsoft deal, leaving the Internet search pioneer … Read more
Yahoo announced on Monday that it filed its definitive proxy statement, which now allows the Internet search pioneer to begin its road show with investors.
Icahn, meanwhile, is seeking to get his dissident slate of directors elected and is using his group to pressure Yahoo and Microsoft to undergo a full buyout of the Internet search pioneer. Currently, the two parties are in talks for Microsoft to buy or partner with Yahoo for a portion of its search business. … Read more
Billionaire investor Carl Icahn kicked off the week with scathing questions for Yahoo, as his proxy fight heats up with roughly eight weeks to go before Yahoo's annual shareholders meeting.
In the latest salvo, Icahn presses Yahoo to answer his previous questions as to why the Internet search pioneer opted to install an expensive employee severance plan as a retention method, while neglecting to mention to its workers that Microsoft had earmarked $1.5 billion to retain employees, should it have been successful in acquiring Yahoo.
Here is Icahn's letter to Yahoo Chairman Roy Bostock:June 9, 2008 … Read more
Microsoft is practicing the "Golden Rule" when it comes to Yahoo and shareholder activist Carl Icahn.
The software giant, which initially encountered a frustrating round of "radio silence" from Yahoo after announcing its unsolicited buyout bid for the Internet search pioneer back in February, is not treating Icahn in a similar manner, as the activist investor uses his proxy fight to push the two companies together for a merger.
Microsoft CEO Steve Ballmer recently shed a little light on the software giant's relationship with Icahn in an interview with the Washington Post. In that interview, … Read more