Dan Loeb Questions Yahoo CEO Scott Thompson's Credentials

Struggling Internet pioneer Yahoo! has admitted to making an "inadvertent error" after an activist shareholder pointed out that its CEO's online bio wrongly said he had a degree in computer science.Until late Thursday, the company's website had said Chief Executive Officer Scott Thompson had received a bachelor's degree in accounting and computer science from Stonehill College, the Wall Street Journal reported.

By Saibus Research:On July 16, Yahoo (YHOO) announced the hiring of Marissa Mayer as CEO to replace Scott Thompson. We were disappointed that Thompson had left the company because Dan Loeb of Third Point was tired of Thompson misrepresenting his educational background.

By Dividendinvestr:Billionaire Daniel Loeb oversees $8.9 billion at his hedge fund, Third Point LLC, which he established in 1995. Loeb has become known for his own brand of activism. Writing public letters to targeted corporate executives and board members, he seeks to affect changes at companies in which he invests.

- By Karin Hernandez:Since the news about Yahoo CEO Scott Thompson's fake college degree surfaced, I've become interested in Dan Loeb. (I agree with him, by the way, on the Yahoo issue, and think that whoever vetted Thompson should be fired, for doing approximately as good a job as was done for Sarah Palin for the John McCain campaign in 2008.) Loeb and Third Point LLC had been very much under my radar up to this point, but here's my attempt to remedy that.

Chief Executive Scott Thompson apparently misrepresented his college credentials, falsely saying he had a computer science degree, an error flagged by an activist shareholder.Yahoo Chief Executive Scott Thompson is expected to step down Sunday after dissident shareholders called attention to his apparent misrepresentation of his college credentials.

While the initial response to last week's YHOO earnings was afterhours euphoria all of which fizzled in the first hours of trading, sentiment on the firm which has yet to do more than merely promise may sour in the coming days even more following news late on Friday that the company's formerly staunchest advocate, Third Point's Dan Loeb sold some 15% of his stake, or 11 million of 73 million shares on Thursday and Friday at a price between $19.68 and $19.70.

By Alpha Stratus:Dan Loeb founded Third Point in 1995 and is known for his blunt and direct public letters to company executives such as when he wrote an open letter to Yahoo board of directors last December stating (among other things) that "We are disturbed but not surprised by this mismanagement given the history of strategic bungling by Yahoo Board Chairman Roy Bostock and Founder Jerry Yang". Ultimately, he is a value investor but clearly one that's not afraid to take a more activist approach.