Just desserts? Carl Icahn to face Sarbanes-Oxley

Now that Carl Icahn has agreed to join the board of Yahoo, he just might have to face some Sarbanes-Oxley related issues, which has venture capitalist Alan Patricof chuckling. "He will also be restricted by Sarbanes-Oxley on how he behaves and, if we are really lucky, he will be appointed to the audit committee and have the further burden of being a steward of the company's finances," he writes. Patricof gets a big kick out of envisioning Icahn on the audit committee. "I can't wait until he deals with Section 404 of Sarbanes-Oxley and has to judge Yahoo's internal controls." Icahn, of course, will now have to evaluate mergers from the inside. "Shareholders will be holding you accountable for your actions..." Icahn has to maintain 30 million shares to stay on the board. What do you think? Will Sarbox be enough for him to sell?

For more:
- here's a copy of the Patricof post

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