SEC fines Altaba $35 million over Yahoo data breach disclosure [MarketWatch]
ALTABA INC (AABA)
US:NASDAQ Investor Relations:
altaba.com/investor-relations
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Source: MarketWatch
SEC fines Altaba $35 million over Yahoo data breach disclosure The Securities and Exchange Commission said Altaba AABA, -1.02% the entity formerly known as Yahoo! Inc., has agreed to pay a $35 million penalty to settle charges that it misled investors by failing to disclose one of the world's largest data breaches in which hackers stole personal data relating to hundreds of millions of user accounts. The SEC said it took the company more than two years to disclose the leak. "We do not second-guess good faith exercises of judgment about cyber-incident disclosure. But we have also cautioned that a company's response to such an event could be so lacking that an enforcement action would be warranted. This is clearly such a case," said Steven Peikin, co-director of the SEC Enforcement Division.
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