Yahoo! Inc. is an American global internet services provider.

According to a press release dated June 7, 2011, the Complaint alleges that throughout the Class Period, Defendants failed to disclose that an important asset in China, Alipay, had been transferred at much less than market value. As a result of Defendants' false statements, Yahoo's stock traded at artificially inflated prices during the Class Period, between April 19, 2011 and May 13, 2011, reaching a high of $18.65 per share on May 6, 2011. On May 10, 2011, Yahoo disclosed in its 10-Q for the first time that the Company's $1 billion investment in a strategic partnership with Alibaba Group Holdings Limited ("Alibaba") likely had been severely impaired by the misappropriation of Alibaba's most valuable asset, Alipay, an e-commerce payment system, from Alibaba to another private company controlled by Alibaba's Chairman, Jack Ma. On news of this partial disclosure, Yahoo's stock collapsed $1.30 per share. Subsequently, on Sunday, May 15, Yahoo issued a press release announcing continued negotiations to resolve all outstanding issues relating to Alipay. On this news, Yahoo's stock price fell an additional $0.74 to close at $15.85 on May 16, 2011 – a decline of 15% from its Class Period high of $18.65 per share.

On July 19, 2011, the Court issued an order consolidating the following cases under the current docket as related cases: 11-CV-02732 , 11-CV-03269, 11-CV-03286, 11-CV-03301, 11-CV-03302.

On August 18, 2011, the Court issued a further order relating case numbers 11-CV_3870 and 11-CV-2732.

On December 19, 2011, the lead Plaintiffs filed an amended Complaint for violations of the federal securities laws.

On August 10, 2012, the Court issued an order granting the Defendants' motion to dismiss.