Yahoo Agrees to $50 Million Settlement Following Massive Security Breach

Yahoo Agrees to $50 Million Settlement Following Massive Security Breach

The largest security breach has bred one of the largest class action settlements.

  • By Sydny Shepard
  • Oct 25, 2018

Yahoo has agreed to pay $50 million to the victims of a security breach that is said to have affected up top 200 million U.S. consumers and some three billion email accounts worldwide.

Yahoo, in an attempt to close the two year lawsuit, has proposed to pay $50 million in compensation to an estimated 200 million users in the U.S. and Israel, according to the court filing. In addition, the company will cover up to $35 million on lawyer fees related to the case and provide affected users in the U.S. with credit monitoring services for two years via AllClear, a package that would retain for around $350.

There are also compensation options for small business and individuals to claim back costs for losses associated with the hacks. That could include identity theft, delayed tax refunds and any other issues related to data lost at the hands of the breach. 

Also, those who paid for premium Yahoo email services are eligible for a 25 percent refund.

The deal is subject to final approval from U.S. District Judge Lucy Koh of the Northern District of California at a hearing scheduled for Nov. 29. 

The intrusion began in 2013 and was believed to have been a state-sponsored attack by Russia, although no strong evidence has been provided to support the claims. The incident was publicly reported in 2016, just months after Verizon announced it would acquire Yahoo for $4.8 billion. 

About the Author

Sydny Shepard is the Executive Editor of Campus Security & Life Safety.

Featured

  • Achieving Clear Audio

    In today’s ever-changing world of security and risk management, effective communication via an intercom and door entry communication system is a critical communication tool to keep a facility’s staff, visitors and vendors safe. Read Now

  • Beyond Apps: Access Control for Today’s Residents

    The modern resident lives in an app-saturated world. From banking to grocery delivery, fitness tracking to ridesharing, nearly every service demands another download. But when it comes to accessing the place you live, most people do not want to clutter their phone with yet another app, especially if its only purpose is to open a door. Read Now

  • Survey: 48 Percent of Worshippers Feel Less Safe Attending In-Person Services

    Almost half (48%) of those who attend religious services say they feel less safe attending in-person due to rising acts of violence at places of worship. In fact, 39% report these safety concerns have led them to change how often they attend in-person services, according to new research from Verkada conducted online by The Harris Poll among 1,123 U.S. adults who attend a religious service or event at least once a month. Read Now

  • AI Used as Part of Sophisticated Espionage Campaign

    A cybersecurity inflection point has been reached in which AI models has become genuinely useful in cybersecurity operation. But to no surprise, they can used for both good works and ill will. Systemic evaluations show cyber capabilities double in six months, and they have been tracking real-world cyberattacks showing how malicious actors were using AI capabilities. These capabilities were predicted and are expected to evolve, but what stood out for researchers was how quickly they have done so, at scale. Read Now

  • Why the Future of Video Security Is Happening Outside the Cloud

    For years, the cloud has captivated the physical security industry. And for good reasons. Remote access, elastic scalability and simplified maintenance reshaped how we think about deploying and managing systems. Read Now

Most   Popular

New Products

  • 4K Video Decoder

    3xLOGIC’s VH-DECODER-4K is perfect for use in organizations of all sizes in diverse vertical sectors such as retail, leisure and hospitality, education and commercial premises.

  • Connect ONE’s powerful cloud-hosted management platform provides the means to tailor lockdowns and emergency mass notifications throughout a facility – while simultaneously alerting occupants to hazards or next steps, like evacuation.

    Connect ONE®

    Connect ONE’s powerful cloud-hosted management platform provides the means to tailor lockdowns and emergency mass notifications throughout a facility – while simultaneously alerting occupants to hazards or next steps, like evacuation.

  • Unified VMS

    AxxonSoft introduces version 2.0 of the Axxon One VMS. The new release features integrations with various physical security systems, making Axxon One a unified VMS. Other enhancements include new AI video analytics and intelligent search functions, hardened cybersecurity, usability and performance improvements, and expanded cloud capabilities