A Battle Investors Can't Win

Donald Yacktman and his board are trying to oust each other

Donald A. Yacktman, a well-regarded mutual-fund manager in Chicago, is in an awkward position. As he sees it, the directors of the funds he founded are trying to throw him out, so he has launched a pre-emptive strike to oust those directors and replace them with a friendlier bunch. A special shareholder meeting is set for Nov. 24.

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