The judge in one of those Yahoo-breached-fiduciary-duty- by-rebuffing-Microsoft lawsuits has unsealed a 60-odd page complaint (full report embedded below). It’s mostly hearsay, newspaper reports, etc., but there’s some fun writing portraying Jerry Yang as the Yahoo shareholder anti-Christ.
Nothing outrageous, but some good details about Yahoo refusing better Microsoft offers in the past and about how even Yahoo’s compensation consultants were shocked by the size of Yahoo’s change-in-control severance plan.
Microsoft Offered $40 For Yahoo in January 2007; Terry Semel Said ‘Take a Hike’
Microsoft Went Public With Offer Because Believed Yahoo Would Not Sell At Any Price
Yahoo’s New CTO, Ari Balogh, Disagreed With Jerry’s Decision to Implement Wildly Expensive New Severance Plan To Deter Microsoft
The Compensation Consulting Firm Hired To Help Yahoo Draft The Severance Plan Said Yahoo’s Insistence on 100% Vesting Was “Nuts”
Email Exchange between Sparks and another Compensia Principal:
Compensation Consulting Firm Concludes that Microsoft-Blocking Severance Plan Cost Was a “Really Big Number”