Does Yahoo Inc.‘s top lawyer know something about the company’s future that investors don’t? General counsel Michael Callahan has sold more than $2 million in company stock over the last two years, and investors are asking why.
Callahan isn’t the only top executive at Yahoo cashing in. Others, including CEO Carol Bartz, have sold more than $232 million in stock in the past two years as the Internet search engine struggled to compete against rivals Google and Microsoft Corp. Bartz alone has sold $2 million in stocks since becoming CEO nine months ago. Yahoo executives declined to comment, a company spokesperson said.
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