[BreachExchange] Yahoo! Data Breach Estimated to Cost Successor Company Net $47 Million

[Destry Winant]

https://www.jdsupra.com/legalnews/yahoo-data-breach-estimated-to-cost-46925/

Altaba Inc., the successor company of Yahoo Inc., recently noted in a
filing with the Securities and Exchange Commission that after its
settlement of consumer and shareholder suits relating to Yahoo’s data
breach that affected all 3 million of its users, it will have paid a
net $47 million in expenses.

This estimate is based upon a tentative agreement to resolve pending
state and federal class action suits, as well as a shareholders
derivative suit, which is on top of a securities class action suit
settlement of $80 million (including $14.4 million in attorneys’ fees)
that recently received final approval from the court. That settlement
has been touted as the largest securities class action in history
involving a data breach.