Yahoo Shareholders Sue Over Massive Data Breaches

By Steven Trader (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...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.

  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!


Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!