Yahoo 2006 Annual Report Download - page 40

issuers filed an omnibus motion to dismiss for failure to comply with applicable pleading standards. On October 8,
2002, the Court entered an Order of Dismissal as to all of the individual defendants in the Overture IPO litigation,
without prejudice. On February 19, 2003, the Court denied the motion to dismiss the Rule 10b-5 claims against
certain defendants, including Overture. Overture accepted a proposal for the settlement and release of claims
against the issuer defendants, including Overture. The settlement was presented to the Court in June 2004. On
February 15, 2005, the Court issued an order granting conditional preliminary approval of the settlement proposal.
On August 31, 2005, the Court issued an order confirming preliminary approval of the settlement. On April 24,
2006, the Court held a fairness hearing in connection with the motion for final approval of the settlement. The Court
has yet to issue a ruling on the motion for final approval. The settlement remains subject to a number of conditions,
including final approval of the Court. On December 5, 2006, the Court of Appeals for the Second Circuit reversed
the Court’s October 2004 order certifying a class in six test cases that were selected by the underwriter defendants
and plaintiffs in the coordinated proceeding. Overture is not one of the test cases and it is unclear what impact this
will have on the class in Overture’s case. If the settlement does not occur, and litigation against Overture continues,
we intend to defend the case vigorously.
We do not believe, based on current knowledge, that any of the foregoing legal proceedings or claims are likely to
have a material adverse effect on our financial position, results of operations or cash flows. However, we may incur
substantial expenses in defending against third party claims. In the event of a determination adverse to Yahoo! or its
subsidiaries, we may incur substantial monetary liability, and be required to change our business practices. Either of
these could have a material adverse effect on our financial position, results of operations or cash flows.
Item 4. Submission of Matters to a Vote of Security Holders
No matters were submitted to a vote of security holders during the fourth quarter of 2006.
Part II
Item 5. Market for the Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of
Equity Securities
Market Information for Common Stock
Yahoo! Inc. common stock is quoted on the Nasdaq Global Select Market under the symbol “YHOO.” The
following table sets forth the range of high and low per share sales prices as reported for each period indicated and
reflects all stock splits effected:
High Low High Low
2005 2006
First quarter..................................... $38.90 $30.30 $43.66 $29.75
Second quarter................................... $38.95 $32.29 $34.09 $28.60
Third quarter .................................... $38.02 $31.60 $33.74 $24.60
Fourth quarter ................................... $43.45 $32.77 $28.56 $22.65
Stockholders
We had 11,152 stockholders of record as of February 15, 2007.
Dividends
We have not declared or paid any cash dividends on our common stock. We presently do not have plans to pay any
cash dividends in the near future.
Recent Sales of Unregistered Securities
In October 2006 we acquired the outstanding stock of Kenet Works AB. On December 11, 2006, we issued an
aggregate of 119,931 shares of our common stock to several shareholders of Kenet Works AB in satisfaction of a
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