Dan Loeb seems like the kind of guy who knows his way around a box of documents. That’s bad news for Yahoo!, because he’s likely to get just that after requesting board records under a Delaware legal provision, a professor at the state’s Widener School of Law says.
Here’s the catch-up: Mr. Loeb uncovered the lie on Yahoo! boss Scott Thompson’s resume by calling Stonehill College and enquiring if the institution offered a computer science major at the time of Thompson’s graduation (it didn’t). He uncovered the lie on the resume of Patti S. Hart, the director who headed the hiring process that landed Thompson at Yahoo!’s helm, by comparing the credentials listed in a 1991 press release with those supplied in 1998.
Now it looks like Mr. Loeb, manager of hedge fund Third Point Capital, may get access to all records, minutes, e-mails and notes pertaining to the hiring process—a scary thought if you’re Mr. Thompson, Ms. Hart, of the Willkie Farr & Gallagher associates tasked with the document dive. Read More