On Monday, May 5, the first day of trading after Microsoft's offer withdrawal, Yahoo's stock lost significant value, closing down 15 percent at $24.37, after dropping as low as $22.97 during the day.

Last week, Yahoo co-founder and CEO Jerry Yang and other top Yahoo executives tried to shift the blame to Microsoft, alleging that the $33-per-share offer was never put in writing and that Microsoft unexpectedly walked away at a time when Yahoo was still open to negotiating.

Meanwhile, a much-publicized deal in which Yahoo would outsource part of its search advertising business to Google -- the possibility of which Microsoft CEO Steve Ballmer cited as a major reason to withdraw the offer -- has yet to be finalized, and, according to recent anonymously sourced press reports, has lost steam.

Icahn is well-known for taking to task the CEOs of companies he invests in when he feels they aren't doing a good job of delivering shareholder value.

Icahn's slate is made up of himself -- chairman and a director of privately held Starfire Holding, and chairman and a director of various Starfire subsidiaries -- and the following people:

-- Lucian A. Bebchuk, the William J. Friedman and Alicia Townsend Friedman Professor of Law, Economics, and Finance, and director of the Program on Corporate Governance at Harvard Law School.

-- Frank J. Biondi, Jr., senior managing director of WaterView Advisors, an investment advisor organization and a former chairman and chief executive officer of Universal Studios.

-- John H. Chapple, president of Hawkeye Investments, a privately owned equity firm investing primarily in telecommunications and real estate ventures.

-- Mark Cuban, Internet entrepreneur and majority and controlling owner of the NBA's team Dallas Mavericks.

-- Adam Dell, managing general partner of Impact Venture Partners, a venture capital firm focused on information technology investments.

-- Keith A. Meister, principal executive officer and vice chairman of the board of Icahn Enterprises and a managing director of Icahn Capital, the entity through which Icahn manages third-party private investment funds.

-- Edward H. Meyer, chairman, CEO and chief investment officer of Ocean Road Advisors, an investment management company.

-- Brian S. Posner, a private investor who from 2005 through March 2008 served as CEO and co-chief investment officer of ClearBridge Advisors, an asset management company.

-- Robert K. Shaye, co-chairman and co-CEO of New Line Cinema.