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Could Shareholders Boot Out Yahoo's Board?

Publication Date: 
May 09, 2008
Source: 
Marketwatch
Author: 
Benjamin Pimentel

Professor Michael Klausner is quoted in a Marketwatch article about whether the Yahoo board could be ousted after its refusal to accept Microsoft's buy-out offer:

Michael Klausner, a corporate-law expert at Stanford Law School, said that a "vote no" campaign would also have limitations, since the company would retain the power to replace a rejected director-nominee.

"The effect would be symbolic," he added, conceding that "it does add an element of pressure on the current management."