New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
May 13, 2012
16:22 EDTYHOOYahoo! reaches agreement with Third Point to settle its pending proxy contest
The company announced that its board has reached an agreement with Third Point to settle its pending proxy contest related to the Company’s 2012 annual meeting of shareholders. Under the Board’s settlement agreement with Third Point, three Third Point nominees – Daniel S. Loeb, Harry J. Wilson, and Michael J. Wolf – will join the Yahoo! Board, effective May 16 . Mr. Bostock, along with Patti Hart, VJ Joshi, Arthur Kern and Gary Wilson, all of whom previously disclosed their intentions not to stand for re-election, as well as Mr. Thompson, have decided to step down from the Board immediately. As a part of the settlement agreement, Third Point, which owns an aggregate of 70,545,400 shares, or 5.8% of Yahoo! common stock, has agreed to withdraw its previous Board nominations for consideration at the annual meeting and vote its shares in support of Yahoo!’s nominees.
News For YHOO From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
September 3, 2015
04:46 EDTYHOOStocks with implied volatility movement; YHOO CHK
Subscribe for More Information
September 2, 2015
16:15 EDTYHOOYahoo completes Polyvore acquisition
Subscribe for More Information
10:20 EDTYHOOYahoo calls active
Subscribe for More Information
10:10 EDTYHOORumor: Yahoo active on renewed takeover chatter
Subscribe for More Information
September 1, 2015
10:49 EDTYHOOYahoo CEO Marissa Mayer announces pregnancy, plans limited time off
Subscribe for More Information
August 31, 2015
12:04 EDTYHOOStocks with call strike movement; BABA YHOO
Subscribe for More Information
August 27, 2015
06:33 EDTYHOOYahoo announces Tumblr sharing tools at Mobile Developer Conference
Subscribe for More Information
August 25, 2015
06:13 EDTYHOOThird Point, FTC settle over antitrust filings for 2011 Yahoo stake
Three affiliated hedge fund companies and their management company, Third Point LLC, have agreed to settle Federal Trade Commission charges that they violated premerger reporting laws in connection with their 2011 acquisitions of stock in Yahoo! Inc. The complaint alleges that Third Point Partners Qualified L.P., Third Point Ultra, LTD, and Third Point Offshore Fund, LTD failed to observe the filing and waiting requirements of the Hart-Scott-Rodino Act before purchasing shares in Yahoo. According to the complaint, the three defendant funds claimed that they were exempt from reporting to the U.S. antitrust authorities because the purchases were made solely for investment purposes. At the time of the stock purchases, however, defendant Third Point LLC, which made investment decisions on behalf of the funds, was taking actions inconsistent with an investment-only intent, such as communicating with third parties to determine their interest in becoming the CEO or a board candidate of Yahoo. Under the terms of the proposed stipulated five-year federal court order, the defendants are prohibited from relying on the investment-only exemption if they have contacted third parties to gauge their interest in joining the board of the target company, communicated with the target company about proposed candidates for its board, or engaged in other specified conduct in the four months prior to acquiring voting securities above the HSR Act threshold. In this case, the agencies determined not to seek civil penalties based on several factors, including that the violation was inadvertent and short-lived, and this was the defendants' first violation of the HSR Act.

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use