Not that we blame him.
A Yahoo (YHOO) director’s honeymoon has emerged as a point of contention in a legal scuffle surrounding Microsoft’s pursuit of a marriage with the Internet company.
Director Arthur Kern was wed on March 1 and delayed his honeymoon “to satisfy personal and business obligations, including to Yahoo,” according to a document filed by lawyers for Yahoo directors with the Court of the Chancery of the State of Delaware. Kern, 61 years old, will begin honeymooning outside the U.S. on May 4 and won’t be able to sit for a deposition requested in a lawsuit until after his return on June 9, the lawyers contended in an April 21 filing. Kern will be “in the midst of his preparations for his honeymoon” prior to leaving, they wrote.
That irks attorneys for two Detroit pension funds leading a suit against Yahoo and its board alleging that the directors breached their fiduciary duties by not responding in good faith to Microsoft’s unsolicited offer. “We are very disappointed that a director who oversaw the transfer of so much shareholder value has refused to commit even a few short hours to explain under oath why the board did what it did,” said Mark Lebovitch, an attorney with Bernstein Litowitz Berger & Grossmann representing the Detroit pension funds.
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