$50 million settlement in Yahoo security breach

Michael Liedtke reports:

Yahoo has agreed to pay $50 million in damages and provide two years of free credit-monitoring services to 200 million people whose email addresses and other personal information were stolen as part of the biggest security breach in history.

The restitution hinges on federal court approval of a settlement filed late Monday in a 2-year-old lawsuit seeking to hold Yahoo accountable for digital burglaries that occurred in 2013 and 2014, but weren’t disclosed until 2016.


Verizon will now pay for one half of the settlement cost, with the other half paid by Altaba Inc., a company set up to hold Yahoo’s investments in Asian companies and other assets. Altaba already paid a $35 million fine imposed by the Securities and Exchange Commission for the delay in disclosing the breach.

Read more on SFGate.

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