Yahoo To Pay $80M To End Securities Suit Over Data Breach
Law360 (March 5, 2018, 6:42 PM EST) -- Yahoo said Friday it will pay $80 million to settle a class action brought by investors who alleged that the company intentionally misled them about its cybersecurity practices in the wake of massive hacks that compromised 1.5 billion users' personal information, despite one of the lead plaintiffs apparently sitting out the deal.
If approved, the stipulated settlement would create a cash fund amounting to about 12 cents a share in which Yahoo will maintain its denial of any liability relating to financial disclosures the company made after some of the largest data breaches in history. Investors had accused the company and several...
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