Tech Business Review: Yahoo HACKED, Valence Files CHAPTER 11

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Yahoo (NASDAQ:YHOO) Voices, which runs on the Internet portal’s instant messaging service and is powered by Telefonica (NYSE:TEF) division JaJah, is now the most recent hacking victim, as the until now unknown D33DS Company published the details of 450,000 user accounts and passwords from the former. But not to worry – the hackers say that the breach was only intended as a “wake-up call and not as a threat”, so all must be well. Somewhat separately, the well-connected Kara Swisher says that Ross Levinsohn might not be named Yahoo’s permanent CEO for several more weeks, because the newer board members are reportedly “committed to a more thorough vetting process” on account of past mistakes (college transcripts come to mind). However, a postponement could be a serious error, as Levinsohn is said to have been offered jobs at top media companies, including Comcast.

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VirnetX (AMEX:VHC) shares jump, following word that it resolves its patent infringement dispute with Mitel (NASDAQ:MITL). Under the terms, VirnetX receives a one-time licensing fee, plus future royalties on sales of Mitel’s enterprise IP communications hardware. This arrangement is similar to a licensing deal with Aastra in May, but VirnetX remains locked in disputes with Apple, Cisco, and NEC.

Valence Technology (NASDAQ:VLNC) seeks for Chapter 11 protection, as the developer of lithium-ion batteries for vehicles and other high-power equipment, had already revealed board resignations and a delisting notice on Wednesday afternoon.

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