Investor Says Yahoo Wasted $127M On Ex-COO

Law360, Wilmington (March 14, 2014, 8:46 PM EDT) -- A shareholder of Yahoo Inc. lodged a derivative suit late Thursday in Delaware Chancery Court on behalf of the Internet portal over the employment agreement for its former chief operating officer, which the investor claims cost the company about $127 million after just 15 months on the job.

In a lawsuit filed in the Delaware Court of Chancery, the David R. & Lynn B. Hughes Trust claims the compensation package Yahoo struck with former Google Inc. advertising executive Henrique de Castro in 2012 was "egregious and wasteful," especially since his employment lasted little more than a year and resulted one of...

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