Yahoo Enters $80 Million Securities Class Action Settlement After Data Breach

J. Robert MacAneney of Carlton Fields writes:

On March 5, Yahoo, Inc. (“Yahoo”) announced a proposed settlement in In re Yahoo Inc. Securities Litigation, which was filed in U.S. District Court in San Francisco. The $80 million proposed settlement relates to a securities class litigation stemming from Yahoo’s 2013 and 2014 data breaches. While many elements of the Yahoo securities class action may be factually unique, the settlement is a milestone because it is the first significant securities fraud settlement from a cybersecurity breach.

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