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Shareholder Ire May Reshape Yahoo

Publication Date: 
May 07, 2008
The Christian Science Monitor
Ben Arnoldy

Professor Robert M. Daines is quoted in a Christian Science Monitor story about the legal fall-out of Microsoft's failed Yahoo takeover bid:

"In practice, courts defer to managers in these matters and give boards great latitude," says Robert Daines, a professor at Stanford Law School. "Courts will say, 'Shareholders, if you don't like it, vote the board out'. "

That's easier said than done, Mr. Daines adds, because boards often stagger the election of their directors.