Yahoo tries to conceal lawsuit documents

By Stephen Shankland, CNET News.com
Monday, May 19, 2008 10:01 AM

Yahoo and shareholders suing the company do not see eye to eye about how public some documents involved in the case should be.

The documents involve details of a severance plan Yahoo adopted after Microsoft launched its attempt to acquire the Internet company in February. Yahoo wants to keep the documents redacted, but Joel Friedlander, the attorney representing the shareholders, accused Yahoo of trying "to whitewash embarrassing documents" so they could not be used to undermine its effort to fend off activist investor Carl Icahn's attempt to oust Yahoo's board, according to The Associated Press.

Also included in the documents are notes from a conversation between Jerry Yang and Steve Ballmer, the respective chief executives of Yahoo and Microsoft, and of comments top executives made about the severance plan, the AP said. The information was gathered during the discovery phase of the lawsuit.

A hearing is scheduled for Tuesday on the matter for the Delaware case.

The severance plan was one sticking point in discussions between Yahoo and Microsoft, a source familiar with the negotiations said.

This article was originally a blog post on CNET News.com.


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