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Legg Mason

Legg Mason Supports Yahoo Directors; Won't Back Icahn

Authored by Mark Hefflinger on July 18, 2008 - 7:50am.

Baltimore - In a major blow to dissent shareholder Carl Icahn, Legg Mason -- the asset management firm that owns 4.4% of Yahoo's (NASD: YHOO) shares -- announced on Friday that it will be supporting the existing Yahoo board, and not the dissident slate nominated by Icahn. On Aug. 1, Yahoo shareholders will vote to elect the entire board of the company.

tags: Deals | Microsoft | Yahoo | Acquisitions | Carl Icahn | Legg Mason |

Online Social Network Creation Platform Ning Raises $44 Million

Authored by Mark Hefflinger on July 10, 2007 - 8:17am.

Palo Alto, Calif. - Ning, a free platform that lets anyone create their own online social network, has raised $44 million in its first round of outside funding, led by Legg Mason, the company said on its blog.

tags: Deals | VC | Social Networking | Legg Mason | Ning | Marc Andreessen |

Court Upholds $20 Million Copyright Suit Against Legg Mason

Authored by Mark Hefflinger on February 17, 2004 - 8:51am.
Baltimore -- A federal district judge in Baltimore has upheld one of the highest copyright infringement verdicts in history, awarding nearly $20 million to Lowry's Reports Inc., the publisher of a newsletter covering stock market conditions. A jury last October found that Baltimore-based financial services firm Legg Mason infringed upon 240 copyrights by posting the newsletter on its intranet, making it available to its brokers nationwide. The award includes $18.9 million in statutory damages plus $825,000 for breach of contract. In its Feb.11 decision, the court rejected Legg Mason's claim that the damages were "grossly excessive," calling them "a deterrent."
tags: Law | Copyright | Legg Mason |