Yahoo and Shareholders Duke It Out

The gloves are coming off in the battle between Yahoo and its upset shareholders.

The two sides held a private phone conference with a judge today. They were discussing a lawsuit over how Yahoo’s board handled the Microsoft takeover talks earlier this month.

The shareholders claim the board is trying to keep “embarrassing documents” out of the public eye, according to the Associated Press. They say those documents include employee severance plans put into place after the Microsoft talks began.

Billionaire Shareholder Carl Icahn is calling for the company’s directors to be replaced at its annual meeting in July.

A ruling on the lawsuit isn’t expected to be made until next week at the earliest.