Yahoo’s CEO Scott Thompson still has a job but Third Point, the activist hedge fund investor that had demanded his ouster for educational inaccuracies on his resumé, isn’t letting up. Now they want to take a look at the paperwork that went into the vetting process.
Yahoo hasn’t responded, but Third Point has been very vocal. CNET has a statement from the hedge fund, which has laid out its demands for widespread investigations pretty thoroughly. Third Point is also seeking greater communication from Yahoo.
“We believe that this internal investigation by this Board must not be conducted behind a veil of secrecy and shareholders deserve total transparency,” Third Point’s statement reads, in part.
Fortune argues that poor business results and a lack of trust from consumers, investors, and other stakeholders puts Yahoo on defense with limited options. Levick’s Gene Grabowski says point blank Thompson can’t survive this attack from Third Point because the hedge fund “won’t give up.”
Yahoo’s board was expected to meet today to talk over the company’s response.