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
Diversity: It's About Inclusion
Kelly Jackson Higgins, Executive Editor at Dark Reading,  4/25/2018
Threat Intel: Finding Balance in an Overcrowded Market
Kelly Sheridan, Staff Editor, Dark Reading,  4/23/2018
Register for Dark Reading Newsletters
White Papers
Video
Cartoon
Current Issue
How to Cope with the IT Security Skills Shortage
Most enterprises don't have all the in-house skills they need to meet the rising threat from online attackers. Here are some tips on ways to beat the shortage.
Flash Poll
[Strategic Security Report] Navigating the Threat Intelligence Maze
[Strategic Security Report] Navigating the Threat Intelligence Maze
Most enterprises are using threat intel services, but many are still figuring out how to use the data they're collecting. In this Dark Reading survey we give you a look at what they're doing today - and where they hope to go.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2017-0290
Published: 2017-05-09
NScript in mpengine in Microsoft Malware Protection Engine with Engine Version before 1.1.13704.0, as used in Windows Defender and other products, allows remote attackers to execute arbitrary code or cause a denial of service (type confusion and application crash) via crafted JavaScript code within ...

CVE-2016-10369
Published: 2017-05-08
unixsocket.c in lxterminal through 0.3.0 insecurely uses /tmp for a socket file, allowing a local user to cause a denial of service (preventing terminal launch), or possibly have other impact (bypassing terminal access control).

CVE-2016-8202
Published: 2017-05-08
A privilege escalation vulnerability in Brocade Fibre Channel SAN products running Brocade Fabric OS (FOS) releases earlier than v7.4.1d and v8.0.1b could allow an authenticated attacker to elevate the privileges of user accounts accessing the system via command line interface. With affected version...

CVE-2016-8209
Published: 2017-05-08
Improper checks for unusual or exceptional conditions in Brocade NetIron 05.8.00 and later releases up to and including 06.1.00, when the Management Module is continuously scanned on port 22, may allow attackers to cause a denial of service (crash and reload) of the management module.

CVE-2017-0890
Published: 2017-05-08
Nextcloud Server before 11.0.3 is vulnerable to an inadequate escaping leading to a XSS vulnerability in the search module. To be exploitable a user has to write or paste malicious content into the search dialogue.