Yahoo Gets Sued

Fortunately, the Microsoft-Yahoo match is over. Unfortunately, Yahoo must face the consequences now. What kind of consequences? Well, it's all about the anger of those shareholders who think that the right move would have been to sell to Microsoft. It's their opinion, their shares, their money, and I respect it. After all, I am sure Yahoo's board also has respect for the shareholders, but they considered that refusing is the best thing to do, and I am glad they did that. The problem is that less than 3 days after the refusal, lawsuits started to be filed against Yahoo already!


For example, two public pension funds have chosen to pursue their class-action lawsuit against Yahoo CEO Jerry Yang and the other members of the board. What do they want? Well, as you probably imagined already, they are seeking financial compensations, but that's only a small part of a bigger picture. Let's leave the lawsuits behind, because I'm sure we'll hear about them again pretty soon...

"I'm extremely disappointed in Jerry Yang," said Gordon Crawford, a portfolio manager at Capital Research Global Investors, a company having its portfolio more than 6 percent of Yahoo's shares. "I think he overplayed a weak hand. And I'm even more disappointed in the independent directors who were not responsive to the needs of independent shareholders," he concluded.

...and the story goes on, and on, and on...