Yahoo strikes $117.5 million data breach settlement after earlier accord rejected

Jonathan Stempel reports:

Yahoo has struck a revised $117.5 million settlement with millions of people whose email addresses and other personal information were stolen in the largest data breach in history.

The proposed class-action settlement made public on Tuesday was designed to address criticisms of U.S. District Judge Lucy Koh in San Jose, California. She rejected an earlier version of the accord on Jan. 28, and her approval is still required.

Koh said the original settlement was not “fundamentally fair, adequate and reasonable” because it had no overall dollar value and did not say how much victims might expect to recover. She also said the legal fees appeared to be too high.

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