Yahoo to Pay $50M to Consumers Affected by Massive Security Breach
Yahoo has agreed to pay up after the largest consumer internet hacks that affected up to 200 million U.S. consumers and some three billion email accounts worldwide.
Yahoo proposed a settlement $50 million to victims of that security breach. 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
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 breaches. Finally, those who paid for premium Yahoo email services are eligible for a 25 percent refund.
The Yahoo security breach settlement is not yet finalized. It is subject to final approval from U.S. District Judge Lucy Koh of the Northern District of California at a hearing slated for November 29.
