Yahoo Reaches a Revised $117.5 Million Settlement after Earlier Accord Rejected


Yahoo has struck a settlement with millions of people whose email addresses and other personal data were stolen in the largest data breach in history. However, the proposed settlement of $117.5 million still requires the approval of US District Judge Lucy Koh.

John Yanchunis, a lawyer for the plaintiffs, in a court filing called the $117.5 million the “biggest common fund ever found in a data breach case.” He did not respond to requests for additional comment.

On January 28, Koh rejected an earlier version of the accord because according to her, it was not fundamentally fair and reasonable and it did not say how much the settlement was worth, or how much victims might expect to recover.

Verizon Communications acquired Yahoo earlier and now part of Verizon had been accused of being slow to disclose three data breaches from 2013 to 2016 that affected 3 billion accounts approximately. Verizon will invest $306 million by 2022 on information security.