Investor Demands Yahoo Voting Probe

05 August 2008

LOS ANGELES: Capital Group, based in the City of Angels and a major investor in Yahoo, has unseraphically demanded a check on how its votes were counted at last Friday's critical annual meeting.

The beleaguered internet portal issued a statement following the meeting that founder/ceo Jerry Yang (pictured above) had been relected to the board with 85% of the meeting's votes cast in his favour.

At which news, Capital  is understood to have asked Broadridge Financial Solutions, an intermediary that acted on its behalf in the voting, to look into the handling of the votes.

Following that request, Yahoo on Monday evening refuted the suggestion that its vote-counting had been flawed, implying that any error was attributable to the way the votes were transmitted from Capital Group to Yahoo.

According to the portal's statement: "The independent inspector of elections certified the results of the election and Yahoo! accurately announced those results.

"Yahoo did not participate in the execution of the votes and was not a party to any errors which may have been made either by a voting institution or a proxy processing intermediary acting on behalf of banks, brokers and institutions."

Data sourced from Financial Times; additional content by WARC staff