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A disgruntled Yahoo shareholder questioned the qualifications and integrity of recently hired CEO Scott Thompson after exposing a misrepresentation about the executive's education.

Yahoo said its new chief executive, Scott Thompson, didn't earn a degree in computer science as stated in a recent securities filing, citing an "inadvertent error."

Yahoo returned legal fire against Facebook in the companies' ongoing patent dispute, calling Facebook's recent countersuit slapdash and asserting two new patents against its younger peer.

Yahoo's first-quarter results showed signs of modest progress under recently hired CEO Scott Thompson.

A week after announcing a painful round of job cuts, Yahoo CEO Scott Thompson unveiled a plan Tuesday that will reorganize the company into three main divisions focused on users, advertisers and technology.

Faltering Internet icon AOL was able to squeeze out more than $1 billion from Microsoft for a trove of some 800 patents in an auction, the latest sign of just how valuable such portfolios can be for the world's biggest technology companies.

Yahoo is laying off 2,000 employees as new CEO Scott Thompson sweeps out jobs that don't fit into his plans for turning around the beleaguered Internet company. The cuts announced Wednesday represent about 14 percent of the 14,100 workers employed by Yahoo.

Yahoo said it would appoint three new independent directors to its board in April, as the Internet company aims to complete an overhaul of its board and leadership while avoiding a proxy fight with an unhappy large shareholder.

Yahoo has put the IP squeeze on Facebook, slapping it with a patent lawsuit during the quiet period in the run up to the social network's IPO.

Yahoo Inc sued Facebook Inc on Monday over 10 patents that include methods and systems for advertising on the Web, according to a copy of the lawsuit.