Judge Allows Yahoo’s $80 Million Data Breach Settlement

Judge Allows Yahoo’s $80 Million Data Breach Settlement

U.S. District Judge Lucy Koh allowed Yahoo last week to settle a class action data breach lawsuit for $80 million which investors had filed in January 2017.

The shareholders sued the internet giant for breaking federal securities law fraud, saying that it had failed to promptly disclose the breaches that had affected the data of three billion customers which caused its stock price to dive.

High-Tech Bridge CEO Ilia Kolochenko remarked that while the case will create a strong precedent to claim damages from breached companies, it is unlikely to provide enough compensation to victims.

Source: Law.com

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