Yahoo is in for a fight with rebel shareholder, and investor billionaire Carl Icahn.
The web company, which still seems to be in talks with Microsoft over the sale of the search engine business, could have a battle on its hands according to new reports.
Yahoo has now set its Annual General Meeting for 1 August - a month after the original date.
But both Reuters and the Wall Street Journal are reporting that the meeting could see an attempt by disgruntled shareholders to launch a proxy battle to oust the current board of directors, but also get rid of Yahoo co-founder and CEO Jerry Yang.
Icahn, who has steadily been buying Yahoo shares since the first takeover bid by Microsoft (launched in February) was rejected by Yahoo's execs.
He is citing the company's failure to reach a deal with Microsoft as a reflection of the board - and wants his own handpicked team of execs put in their place to drive a deal home.
Icahn had always made his plans to appoint an alternate slate very clear but this is the first time he has personally gone after Yang.
In a interview in The Wall Street Journal, he said: "It's no longer a mystery to me why Microsoft's offer isn't around".
"How can Yahoo keep saying they're willing to negotiate and sell the company on the one hand, while at the same time they're completely sabotaging the process without telling anyone?"
Icahn has not confirmed the remarks, but Yahoo nevertheless retorted: "Yahoo's board of directors, including Jerry Yang, has been crystal clear that it would consider any proposal by Microsoft that was in the best interests of its shareholders".
In the meanwhile, just to make matters even more interesting, media mogul and News Corp chief executive Rupert Murdoch, has weighed in.
Murdoch had been cited as a possible competitor against Microsoft for Yahoo, and then later there were rumours that he may even join Microsoft in its bid.
But now Murdoch is just happy to take pot-shots and told journos at the All Things Digital conference in Southern California that Icahn was "not serious".
"Look, he wants to make himself a few hundred million dollars," Murdoch said. "For Microsoft it is helpful noise. If I were Yahoo, I wouldn't worry about it."
He also said he thought Microsoft would eventually reach a deal with Yahoo.