Yahoo Sued Again Over Botched Alibaba Deal Cover-Up

Law360, New York (August 9, 2011, 8:55 PM EDT) -- A Yahoo Inc. shareholder filed a putative class action Friday in California accusing the digital media company of misleading investors about a transaction that damaged the value of its $1 billion investment in China's largest e-commerce company, Alibaba Group Holdings Ltd.

For six months, Yahoo and its top officials failed to inform shareholders that China's e-commerce giant had moved its most valuable asset to another company held by Alibaba Chair and CEO Jack Ma for much less than it was worth, damaging the value of the...
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