Yahoo! said its board of directors is forming a committee to look into Thompson's academic background amid claims he did not obtain a computer science degree from Stonehill College as he had stated.
The committee will be chaired by Alfred Amoroso, who joined Yahoo!'s board in February. John Hayes and Thomas McInerney are the other members of the committee. They joined the board last month. The committee retained Terry Bird of the law firm Bird, Marella, Boxer, Wolpert, Nessim, Drooks and Licenberg in Los Angeles in relation to the matter.
In addition to the committee, earlier reports said Yahoo! director Patti Hart, who led the search committee to find Thompson, would not stand for reelection to the board.The situation regarding Thompson's education first came to light last week when activist investor Dan Loeb and his hedge fund firm, Third Point, said Thompson received an accounting degree, not computer science, from Massachusetts' Stonehill. Yahoo! subsequently said it was an inadvertent error, then said it would be looking into the matter. Shares of Yahoo! are off 0.42% to $15.28 in mid-Tuesday trading. Third Point and Yahoo! were not immediately available for comment for this story. Interested in more on Yahoo!? See TheStreet Ratings' report card for this stock. Check out our new tech blog, Tech Trends. Follow TheStreet Tech on your wireless devices. --Written by Chris Ciaccia in New York >Contact by Email. Follow @Commodity_Bull
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
24/7 market commentary from Jim Cramer and 20+ veteran Wall Street gurus. Get access to the latest trading ideas on stocks, options, and ETFs as well as a real-time forum to see the pros exchanging their investment ideas.
- Jim Cramer + 20 Wall Street pros
- Intraday commentary & news
- Real-time trading forum
- Actionable trade ideas
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV