Yahoo Investor Takes Aim At Board Over Bidding Rules

Law360, New York (December 5, 2011, 9:44 PM EST) -- A Yahoo Inc. shareholder filed a putative class action against the company's board of directors Thursday over a confidentiality clause in bidding procedures that the shareholder claims is designed to discourage any bids that would adversely affect Yahoo co-founder Jerry Yang.

In a complaint filed in Delaware court, shareholder M&C Partners III says a "no cross-talk" clause, which prohibits any potential bidders from conferring with each other, prohibits firms from jointly bidding on a majority stake in the company, confining them to just minority stakes....
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