Vote Counter Confirms Yahoo Error; Outcome Unaffected, But…


Mistakes were in fact made in counting Yahoo’s (NSDQ: YHOO) shareholder vote. Tabulator Broadridge Financial Solutions has confirmed that “truncation error” caused an under-reporting of votes, reports WSJ. But the firm notes that the changes would not have affected the actual outcome. Word first surfaced yesterday that major shareholder Capital Research suspected something was up, when votes cast against CEO Jerry Yang and Chairman Roy Bostock looked light. New revised tallies haven’t been released yet, so we don’t yet know whether the actual numbers will change considerably. While the outcome of the vote isn’t in doubt, the numbers are still a gauge of support for current management. Yang’s 85 percent support was perceived as a major vote of confidence. Something considerably less than that might weaken his position. More to come as new information emerges.

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