Yahoo Agrees To Uncloak Docs Sought By Third Point

Law360, Wilmington (March 26, 2012, 9:43 PM EDT) -- Yahoo Inc. on Friday relented in its bid to keep documents under wraps from a 2008 shareholder suit that hedge fund Third Point LLC wants to use as ammo for its proxy fight with the troubled Internet giant.

According to papers filed in Delaware Chancery Court, Yahoo withdrew a motion to keep 40 files under seal from a settled lawsuit that faulted the company’s board for Microsoft’s 2008 failed $50 billion bid for Yahoo.

Yahoo had asked the court March 6 to maintain confidentiality of the...
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