Microsoft: Yahoo Chairman's Pants on Fire

Yahoo’s annual shareholder meeting is just a few hours old, and already Microsoft is having its say about Chairman Roy Bostock’s portrayal of its buyout bid melodrama. In comments to Yahoo (YHOO) shareholders, Bostock said the board never “resisted” Microsoft’s offer and claimed once again that the software giant was never actually fully engaged in negotiations.

And that didn’t go over so well with Microsoft (MSFT). “Yahoo is attempting to rewrite history yet again with statements that are not supported by the facts,” the company said in a terse statement.

And doing a poor job of it too, judging by the company’s stock price. Shares in Yahoo dipped below $20 in after-hours trading.