Short Sellers Alert: Investigation of Yahoo! Inc.
An investigation for investors who hold NASDAQ:YHOO shares long-term, was initiated concerning potential breaches of fiduciary duties by certain officers and directors at Yahoo! Inc.
The investigation by a law firm concerns whether certain Yahoo officers and directors breached their fiduciary duties and caused damage to the company and YHOO stockholders.
On January 27, 2015, Shares of Yahoo! Inc. (NASDAQ:YHOO) announced management has recommended and the Board of Directors has authorized a plan for a tax-free spin-off of the company’s remaining holdings in Alibaba Group into a newly formed independent registered investment company (“SpinCo”). The stock of the new company will be distributed pro rata to Yahoo shareholders, resulting in SpinCo becoming a separate publicly traded company. Shares of Yahoo! Inc. (NASDAQ:YHOO) delinked to as low as $41.80 per share on January 29, 2015.
On March 30, 2015, NASDAQ:YHOO shares closed at $44.95 per share.
Both Yahoo! Inc. (NASDAQ:YHOO) and Microsoft Corporation (NASDAQ:MSFT) has unanimously decided to push back the deadline by 30 more days.
Does this push back show that they would like to continue this partnership or does it signal that the deal is about to be broken?
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