Risk

3/8/2018
03:55 PM
50%
50%

Yahoo Agrees to $80 Million Settlement with Investors

Investors alleged that Yahoo intentionally misled them about its cybersecurity practices.

Yahoo has agreed to pay $80 million to settle a class action securities litigation brought against it by shareholders who alleged that the company intentionally misled them about its cybersecurity practices in the wake of massive data breaches in 2013 and 2014 that compromised the personal information of all 3 billion of Yahoo customers.

The 2013 breach was not reported until 2016, and the full extent of the damage was not known until October 2017, months after the investors' lawsuit was filed. The listed defendants are the company, and its CEO and CFO at the time of the events, Marissa Meyer and Kenneth Goldman, respectively. The settlement class includes all those who purchased or acquired Yahoo securities on the open market between April 30, 2013, and Dec. 14, 2016. 

The settlement must now be accepted by the court. 

A separate class action suit against Yahoo is also being brought by the victims of the breach whose personal data was exposed in the 2013 breach. The incidents forced Yahoo to trim $350 million off the original $4.83 billion asking price when it sold its main assets to Verizon in 2017. 

For more information, see here and here.

 

 

 

 

Dark Reading's Quick Hits delivers a brief synopsis and summary of the significance of breaking news events. For more information from the original source of the news item, please follow the link provided in this article. View Full Bio

Comment  | 
Print  | 
More Insights
Comments
Newest First  |  Oldest First  |  Threaded View
Higher Education: 15 Books to Help Cybersecurity Pros Be Better
Curtis Franklin Jr., Senior Editor at Dark Reading,  12/12/2018
'PowerSnitch' Hacks Androids via Power Banks
Kelly Jackson Higgins, Executive Editor at Dark Reading,  12/8/2018
Worst Password Blunders of 2018 Hit Organizations East and West
Curtis Franklin Jr., Senior Editor at Dark Reading,  12/12/2018
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Write a Caption, Win a Starbucks Card! Click Here
Latest Comment: This comment is waiting for review by our moderators.
Current Issue
10 Best Practices That Could Reshape Your IT Security Department
This Dark Reading Tech Digest, explores ten best practices that could reshape IT security departments.
Flash Poll
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2018-14623
PUBLISHED: 2018-12-14
A SQL injection flaw was found in katello's errata-related API. An authenticated remote attacker can craft input data to force a malformed SQL query to the backend database, which will leak internal IDs. This is issue is related to an incomplete fix for CVE-2016-3072. Version 3.10 and older is vulne...
CVE-2018-18093
PUBLISHED: 2018-12-14
Improper file permissions in the installer for Intel VTune Amplifier 2018 Update 3 and before may allow unprivileged user to potentially gain privileged access via local access.
CVE-2018-18096
PUBLISHED: 2018-12-14
Improper memory handling in Intel QuickAssist Technology for Linux (all versions) may allow an authenticated user to potentially enable a denial of service via local access.
CVE-2018-18097
PUBLISHED: 2018-12-14
Improper directory permissions in Intel Solid State Drive Toolbox before 3.5.7 may allow an authenticated user to potentially enable escalation of privilege via local access.
CVE-2018-3704
PUBLISHED: 2018-12-14
Improper directory permissions in the installer for the Intel Parallel Studio before 2019 Gold may allow authenticated users to potentially enable an escalation of privilege via local access.