As he's not allowed to take honeymoon, strange and bizarre events continue at the Yahoo offices as senior management scrambles.
Here's the latest bizarre turn of events:
Yahoo Has Fight Over Honeymoon
A Yahoo 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 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. Mr. Kern, 61 years old, will begin honeymooning outside the U.S. on May 4 and won't be able to sit for a deposition until after his return on June 9, the lawyers contended in an April 21 filing.
That irks attorneys for two Detroit pension funds leading a suit against yahoo and its board alleging that directors breached their fiduciary duties by not responding in good faith to Microsoft's unsolicited offer. The complaint cites an enhanced severance plan Yahoo's board approved that covers full-time yahoo employees in the event a takeover occurs and the employees are laid off without cause of leave for “good reason.” Mr. Kern is chairman of Yahoo's compensation committee, which approves that arrangement.
Mr. Kern referred all questions to a Yahoo spokesman, who declined to comment.
By: Kevin Delaney
Wall Street Journal
