Yahoo Agrees to $80 Million Settlement Over Data Breaches
The State of Security
Yahoo has agreed to pay $80 million to settle a federal securities class action lawsuit following the massive data breaches that compromised the personal information of three billion users.
The suit was filed by several shareholders in January 2017, alleging the web services provider intentionally misled them about its cybersecurity practices, in turn, causing the company’s stock prices to drop.
According to reports, it is still unclear whether the proposed settlement will close the case, as one of the named plaintiffs in the suit did not agree to it.
The settlement includes all those who purchased or acquired Yahoo securities on the open market between April 30, 2013, and Dec. 14, 2016.