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Yahoo Data Breach Leads to $50 Million Settlement

Nearly 200 million Yahoo users in the U.S. and Israel are expected to receive checks from the company now that a two-year legal battle has ended. Yahoo has agreed to a $50 million settlement after a 2016 data breach impacted its email accounts. The company has been providing AllClear credit monitoring services for all impacted users over the span of two years. When the cyber-attacks initially happened in 2013, Yahoo originally disclosed that 1 billion of its users were impacted by the breach. The company later announced 3 billion of their email users were affected. Oath, which now owns Yahoo, will pay half of the settlement along with holding company Altaba. Yahoo’s settlement shines a light on the potential future of data breach settlements. In July, Target reached an $18.5 million settlement for its 2013 hacks. Now, eyes are on Facebook for its most recent hacks and Cambridge Analytica scandal.

Oct 25, 2018