Thompson received a bachelor of science degree in business administration with a major in accounting from Stonehill College in Easton, Mass. However, Thompson's resume claimed that he also held a degree in computer science.

The claim also made it onto Thompson's biography page on Yahoo's site, as well as on , where Thompson had served as president. His college credentials are no longer on his Yahoo bio.

In statements to the news media, Yahoo called the misrepresentation "inadvertent," but Reynolds is doubtful about that.

"There's no credible way that 10 years or so of public misrepresentation could be inadvertent," he said. "Also, I ... assume that Scott is personally responsible for the accuracy and veracity of Yahoo's SEC filings under Section 302 of Sarbanes-Oxley. If that's the case, he's at least culpable under those regulations for misrepresenting material info pertinent to investors, inadvertent slips in the curriculum vitae or no."

Rob Enderle, an analyst with the Enderle Group, said the issue should result in Thompson's dismissal from the company.