From the YRA website
On the afternoon of April 14th, 2012 The Yacht Racing Association of San Francisco Bay learned from the U.S. Coast Guard that the sailing vessel, "Low Speed Chase", was lost during the 2012 Full Crew Farallones Race. Of the eight crew members aboard, three crew members were rescued from the SE Farallon Island, one crew member has been confirmed dead, and four additional crew members are still missing.
According to nearby competitors who reported a vessel in distress, the accident occurred around 3 p.m.. "Low Speed Chase's" EPIRB was activated and Coast Guard and National Guard Helicopters' were dispatched to the scene. Two Coast Guard Vessels remain on the scene, still searching for the unaccounted for crew.
Photo from the Coast Guard
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