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
Crowdsourced vs. Traditional Pen Testing
Alex Haynes, Chief Information Security Officer, CDL,  3/19/2019
BEC Scammer Pleads Guilty
Dark Reading Staff 3/20/2019
Register for Dark Reading Newsletters
White Papers
Video
Cartoon Contest
Current Issue
5 Emerging Cyber Threats to Watch for in 2019
Online attackers are constantly developing new, innovative ways to break into the enterprise. This Dark Reading Tech Digest gives an in-depth look at five emerging attack trends and exploits your security team should look out for, along with helpful recommendations on how you can prevent your organization from falling victim.
Flash Poll
The State of Cyber Security Incident Response
The State of Cyber Security Incident Response
Organizations are responding to new threats with new processes for detecting and mitigating them. Here's a look at how the discipline of incident response is evolving.
Twitter Feed
Dark Reading - Bug Report
Bug Report
Enterprise Vulnerabilities
From DHS/US-CERT's National Vulnerability Database
CVE-2018-20031
PUBLISHED: 2019-03-21
A Denial of Service vulnerability related to preemptive item deletion in lmgrd and vendor daemon components of FlexNet Publisher version 11.16.1.0 and earlier allows a remote attacker to send a combination of messages to lmgrd or the vendor daemon, causing the heartbeat between lmgrd and the vendor ...
CVE-2018-20032
PUBLISHED: 2019-03-21
A Denial of Service vulnerability related to message decoding in lmgrd and vendor daemon components of FlexNet Publisher version 11.16.1.0 and earlier allows a remote attacker to send a combination of messages to lmgrd or the vendor daemon, causing the heartbeat between lmgrd and the vendor daemon t...
CVE-2018-20034
PUBLISHED: 2019-03-21
A Denial of Service vulnerability related to adding an item to a list in lmgrd and vendor daemon components of FlexNet Publisher version 11.16.1.0 and earlier allows a remote attacker to send a combination of messages to lmgrd or the vendor daemon, causing the heartbeat between lmgrd and the vendor ...
CVE-2019-3855
PUBLISHED: 2019-03-21
An integer overflow flaw which could lead to an out of bounds write was discovered in libssh2 before 1.8.1 in the way packets are read from the server. A remote attacker who compromises a SSH server may be able to execute code on the client system when a user connects to the server.
CVE-2019-3858
PUBLISHED: 2019-03-21
An out of bounds read flaw was discovered in libssh2 before 1.8.1 when a specially crafted SFTP packet is received from the server. A remote attacker who compromises a SSH server may be able to cause a Denial of Service or read data in the client memory.