Yahoo to pay $117.5M in latest settlement of massive breach [Business News Network (BNN) Energy & Resources (Canada)]
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Source: Business News Network
Yahoo to pay $117.5M in latest settlement of massive breach SAN FRANCISCO - Nearly 200 million people who had sensitive information snatched from their Yahoo accounts will receive two years of free credit-monitoring services and other potential restitution in a legal settlement valued at $117.5 million. The deal revises an earlier agreement struck last October, only to be rejected by U.S. District Court Judge Lucy Koh in San Jose, California. The value of that settlement had been pegged at $50 million, but Koh questioned the calculations. A more detailed breakdown used in the revised settlement drove up the estimated cost. The money will be paid by Yahoo's current owner, Verizon ( VZ.N ), and Altaba, a holdover from Yahoo's past that still owns a stake in Chinese internet company Alibaba Group (BABA.N) worth billions of dollars. If approved, the settlement will become part of the financial fallout from digital burglaries that stole personal information from about 3 billion Yahoo acco
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