internet

Yahoo to ask for dismissal of amended shareholder suit

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

Internet Week New York: Let it blend

NEW YORK--The inaugural Internet Week New York was eight days of open bars and missed opportunities.

On the red carpet at the 12th Annual Webby Awards on Tuesday night, the final event of the week-long city-sanctioned festival, I called out to Internet Week executive director David-Michel Davies and asked him what he'd do next year to change it. "We'd like to do a better job with the schedule," he said to me after hesitating for a moment. He added a few more words about how a better calendar could help Internet Week-goers connect, before publicists snagged … Read more

Yahoo shareholders push judge for speedier trial date

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.

The letter points to Yahoo's proxy materials filed Tuesday, as well as a posting in Silicon Alley Insider.

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

Icahn issues 'personally liable' warning to Yahoo board

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

The Meta-Webbys: The awards for the best Webby acceptance speeches

NEW YORK--The 12th annual Webby Awards Gala on Tuesday night was, unsurprisingly, an evening devoted to all things Internet. "Without the Internet, someone like Tila Tequila would have five or six friends, max," host Seth Meyers of Saturday Night Live quipped about the Web's ability to roll out cult micro-celebrities. "Without the Internet, only Ron Paul would know who Ron Paul is."

The glitzy ceremony, held at a Greek Revival building that once housed the New York Stock Exchange and New York Merchants Exchange and now houses the upscale Cipriani Wall Street event space, celebrated … Read more

Yahoo dishes up FAQ on its employee severance plans

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

Microsoft patches 10 flaws with seven bulletins

Microsoft on Tuesday released its June 2008 security bulletin, which includes three critical, three important, and one moderate patch.

Of the critical, one is for the Bluetooth stack in Windows XP and Windows Vista, one is for DirectX, and another is a cumulative update to Internet Explorer. The one moderate bulletin covers a flaw in the speech recognition feature in Windows 2000, XP, and Windows Vista. Of the important bulletins, one concerns Active Directory and another Pragmatic General Multicast (PGM). All Microsoft security patches for both Windows and Office software are available via Microsoft Update or via the individual bulletins … Read more

Shareholders seek to repeal Yahoo severance plans

Updated June 10 at 6:23 a.m. PDT with information from the brief.

Yahoo shareholders filed a statement late Monday seeking a trial date to invalidate the company's controversial employee severance plan prior Yahoo's annual shareholder meeting.

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-Microsoft partial deal not imminent

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

As Yahoo files proxy, road show begins

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.

Yahoo, which is embroiled in a proxy fight with major shareholder Carl Icahn, is seeking to persuade its investors to re-elect its current board at the August 1 shareholder meeting.

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