Departing Yahoo CEO Could Face Radar Fraud Suit

Law360, New York (July 16, 2012, 10:22 PM EDT) -- The trustee overseeing the bankruptcy of Radar Networks Inc. has reached a deal that could allow a fraud suit against outgoing Yahoo Inc. CEO Ross Levinsohn to go forward, according to a stipulation filed Thursday.

Kate Paley, the daughter of late CBS Corp. CEO William Paley, claims that Levinsohn, a Radar director who was Yahoo's interim CEO until his replacement Monday, and other insiders at Radar transferred about $3 million she lent to the company to another entity.

Her suit, claiming fraud and conversion, was stymied after Radar, a web applications company, filed for bankruptcy, but her lawyer said Thursday in...

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