Yahoo doubles breach settlement to £90 m

News by Doug Olenick

Yahoo has more than doubled its proposed data breach settlement payout to US$117.5 million (£90 million) after having a smaller amount rejected by a California judge in the US in January.

Yahoo has more than doubled its proposed data breach settlement payout to US$117.5 million (£90 million) after having a smaller amount rejected by a California judge in the US in January.

The original US$ 50 million (£38 million) amount was rejected by US District Judge Lucy Koh who said she couldn’t declare the settlement "fundamentally fair, adequate and reasonable" because it did not say how much victims could expect to recover, according to court documents. The settlement would cover at least US$ 55 million (£42 million) for victims’ out-of-pocket expenses and other costs, US$ 24 million (£18 million) for two years of credit monitoring, up to US$ 30 million (£23 million) for legal fees, and up to US$ 8.5 million (£6.5 million) for other expenses, Reuters reported.

The amount would be used to settle a class action suit brought to compensate the estimated 194 million victims impacted by the data breach that saw almost one billion email addresses compromised during the 2016 incident.

This article was originally published on SC Media US.

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