Is One of Scott Thompson's First Duties at Yahoo to Deal with its Undisclosed SEC Probe?

With Yahoo's announcement today that it appointed Scott Thompson as its new CEO, we thought it timely to remind those with an interest that Yahoo carries the risk of recently confirmed yet undisclosed SEC investigative activity. Based on our having filed 5 separate Freedom of Information Act requests on Yahoo in the period July 2006 through October 2010, we know that SEC investigative activity involving Yahoo began sometime after October 2010.

The following was originally published for our subscribers on 16-Dec-2011 --

• Yahoo Inc. (YHOO- $15.16 Mkt. Cap.- $18.8 B) Confirmed, Undisclosed SEC Investigation. In a letter dated 14-Nov-11, we received information from the SEC suggesting this company was involved in unspecified SEC investigative activity. We found no disclosure of the same as of that date. In a letter dated 8-Dec-11, the SEC confirmed that this company was somehow involved in a recently active and ongoing investigation that remains undisclosed as of this date.

Whether this remains an ongoing exposure since we first reported on it is unknown.  It is also impossible to know if this will have any impact on new strategy options Mr. Thomson and the Yahoo board may seek to pursue. 

Yahoo will know answers to both.  Given the prominence of today's announcement in the market today, we think it timely for Yahoo to come forth with them.