Yahoo reaches $117.5 million settlement in huge data breach
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, and Altaba, a holdover from Yahoo’s past.
If approved, the settlement will become part of the financial fallout from digital burglaries that stole personal information from about 3 billion Yahoo accounts in 2013 and 2014.
In April 2018, Yahoo agree to pay a $35 million fine to resolve federal regulators’ charges that the online pioneer deceived investors by failing to disclose those breaches, among the biggest in internet history. The SEC alleged that although Yahoo senior managers and attorneys were told about the breach, the company failed to fully investigate it. The agency said the breach wasn’t disclosed to investors until more than two years later, when Yahoo was working on closing Verizon’s acquisition of its operating business in 2016.