Third Point demands resignation of Yahoo founder

Hedge fund manager Daniel Loeb launched another attack on Yahoo Inc on Friday, demanding co-founder Jerry Yang's resignation and two seats on the struggling Internet company's board. In a letter to Yahoo's board, Loeb said he was "deeply concerned" Yahoo is looking at deals that will allow private equity firms to gain substantial equity positions in the company. "More troubling are reports that Mr. Yang is engaging in one-off discussions with private equity firms, presumably because it is in his best personal interests to do so," he stated in the letter, adding that Yang should clarify whether he is a buyer or seller. Loeb's comments came on the same day the company signed confidentiality agreements with several parties interested in buying all or part of the Internet company, according to people familiar with the matter. Click here for full story