Third Point LLC Shows New 5.15% Stake in Yahoo, Inc. (YHOO); Wants Bostock, Other Directors to Resign

In a 13D filing on Yahoo, Inc. (NASDAQ: YHOO), Dan Loeb's hedge fund Third Point LLC disclosed a 5.15%, or 65,000,000 share, stake in the company. The firm did not hold shares at the end of the latest quarter ending June 30, 2011.

Third Point made the following comment: "we insist that Mr. Bostock, who championed Ms. Bartz’s hiring and led the charge against the Microsoft deal, promptly resign from the Board. We also demand that fellow Directors Arthur Kern and Vyomesh Joshi, who have stood by silently during these last five years of woeful performance, join Mr. Bostock in resignation. Finally, we can only assume that Director Susan James, the President of Tri-Valley Animal Rescue, will also resign, given her close relationship with Ms. Bartz. If she does not do so voluntarily, the Board should request her resignation as well."

For more notable holders of Yahoo, Inc. stock click here. For more information on Third Point LLC click here.

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