Yahoo Shareholders Sue Over Massive Data Breaches

Law360, New York (February 21, 2017, 4:33 PM EST) -- A group of Yahoo Inc. shareholders has filed a derivative complaint in Delaware Chancery Court claiming the company breached its fiduciary duty by failing to properly alert consumers that nearly 1.5 billion of its users' data was stolen by hackers, which was disclosed late last year.

Led by the Oklahoma Firefighters Pension and Retirement System, the shareholders filed the lawsuit on Monday against the company itself, as well as the chairman of Yahoo's board of directors Eric Brandt, the company's co-founder David Filo and current CEO Marissa Mayer, among others. 

While the complaint itself was sealed, a supplemental information form filed...

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