Yahoo shareholders demand release of lawsuit data

Lawyers for Yahoo want information in a shareholder lawsuit over Microsoft's bid for the internet pioneer to remain confidential, an Associated Press report said.

But attorneys for the shareholders say the records should be public, the report said.

Chancellor William Chandler III held a private teleconference with attorneys as he weighs the plaintiffs' request to unseal their complaint.

The complaint alleges Yahoo's board breached its duty to shareholders in rejecting Microsoft's takeover offer this month, the report said.

One of the plaintiffs' attorneys, Joel Friedlander, wrote the judge accusing Yahoo of trying to 'whitewash' documents that might damage its effort to defeat a proxy challenge from activist investor Carl Icahn.

Attorneys for Yahoo say keeping some of the complaint confidential is appropriate, while shareholders want to try the case in the press.

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