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Voting scandal from Yahoo shareholder meeting

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When Yahoo held their shareholders meeting and votes were cast for the Jerry Yang and company, they won pretty conformably and it was taken as a sign that the shareholders were more or less rallying behind the board and believed in their vision.

Turns out that might not be completely true.

ValleyWag is reporting that Capital Research & Management, the group responsible for tallying the shareholder votes, omitted tens of millions of votes, way more than enough to skew the results.

The new, corrected totals, paint a pretty bad picture for Yang with the percentage of votes withheld from him jumping from 14.6 to 33.7 percent. Yahoo chairman Roy Bostock has his own bad news to deal with, with the percentage of votes withheld from him jumping from 20.5 to 39.5 percent.

Does that mean that Yang and Bostock will be stepping down?

[Via ValleyWag]

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