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Loeb to sell 40M Yahoo shares as he leaves board

Associated Press
Loeb to sell 40M Yahoo shares as he leaves board

FILE- This Oct. 17, 2012, photo, shows a sign in front of Yahoo! headquarters in Sunnyvale, Calif. Activist investor Dan Loeb and two other directors nominated by his hedge fund are leaving Yahoo's board after big gains in the Internet company's stock price over the past year. Yahoo is also buying back 40 million shares of its common stock from Third Point LLC, Loeb's hedge fund. Shares hit a 5-year high of $29.83 on Thursday, July 18, 2013. (AP Photo/Marcio Jose Sanchez, File)

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