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6 Feb 2012

Xenia Kobylarz, Milberg LLP, in BusinessWire

Milberg LLP and Human Rights Activist File Suit Against Yahoo! Questioning Operation of the Yahoo! Human Rights Fund

Milberg LLP and human rights activist Morton Sklar filed a lawsuit demanding that Yahoo!...provide records regarding its establishment and operation of the Yahoo! Human Rights Fund (the “Fund”)...The Fund was established to settle the claims of Chinese dissidents whose internet user identifications were improperly disclosed by Yahoo! to China’s government. Jing Zhao, a Chinese activist and Yahoo! shareholder...demand...that Yahoo! produce for inspection documents concerning Yahoo!’s potential mismanagement and breaches of fiduciary duties in connection with the Fund...Yahoo! agreed to establish the Fund to provide humanitarian and legal support to political dissidents who have been imprisoned for expressing their views online, as well as assistance for their families...The complaint seeks production of documents that will allow shareholders to take appropriate action in the event the members of Yahoo!’s Board of Directors did not properly discharge their fiduciary duties.