Yahoo shareholders seek release of lawsuit data

Lawyers for Yahoo want information in a shareholder lawsuit over Microsoft''s bid for the internet pioneer to remain confidential, but attorneys for the shareholders say the records should be public.

Chancellor William Chandler III held a private teleconference with attorneys as he weighs the plaintiffs'' request to unseal their complaint.

The complaint alleges Yahoo''s board breached its duty to shareholders in rejecting Microsoft''s $47.5 billion takeover offer this month.

One of the plaintiffs'' attorneys, Joel Friedlander, wrote the judge accusing Yahoo of trying to "whitewash" documents that might damage its effort to defeat a proxy challenge from activist investor Carl Icahn.

Attorneys for Yahoo say keeping some of the complaint confidential is appropriate, while shareholders want to try the case in the press.



Source:AP news