Yahoo Announces Class Action Settlement for Data Breach

Following on the heels of Equifax settlement in July, 2019, Yahoo has announced that it will settle class action litigation against it for its series of massive data breaches.

In case you can’t quite remember all that went wrong with Yahoo in regards to breaches, here is a quick recap from their press release:

  1. 2012 Data Security Intrusions: From at least January through April 2012, at least two different malicious actors accessed Yahoo’s internal systems. The available evidence, however, does not reveal that user credentials, email accounts, or the contents of emails were taken out of Yahoo’s systems.
  2. 2013 Data Breach: In August 2013, malicious actors were able to gain access to Yahoo’s user database and took records for all existing Yahoo accounts—approximately three billion accounts worldwide. The records taken included the names, email addresses, telephone numbers, birth dates, passwords, and security questions and answers of Yahoo account holders. As a result, the actors may have also gained access to the contents of breached Yahoo accounts and, thus, any private information contained within users’ emails, calendars, and contacts.
  3. 2014 Data Breach: In November 2014, malicious actors were able to gain access to Yahoo’s user database and take records of approximately 500 million user accounts worldwide. The records taken included the names, email addresses, telephone numbers, birth dates, passwords, and security questions and answers of Yahoo account holders, and, as a result, the actors may have also gained access to the contents of breached Yahoo accounts, and thus, any private information contained within users’ emails, calendars, and contacts.
  4. 2015 and 2016 Data Breach: From 2015 to September 2016, malicious actors were able to use cookies instead of a password to gain access into approximately 32 million Yahoo email accounts.

Do You Qualify for Compensation?

If you received a notice from Yahoo about the data breaches, or if you had a Yahoo account at any time between January 1, 2012 and December 31, 2016, and are a resident of the United States or Israel, you are a “Settlement Class Member.”

Under the terms of the Settlement, Yahoo has created a Settlement Fund of $117,500,000 and will provide victims a minimum of two years of Credit Monitoring Services to protect Settlement Class Members from future harm, or an alternative cash payment for those who verify they already have credit monitoring or identity protection.

If you can prove that you’ve had out-of-pocket losses, including but not limited to loss of time dealing with the breach you may qualify for additional compensation.

The complete list of all available legal rights and options can be found here.

Prevention is the Better Option

At Konsultek we firmly believe that an ounce of prevention is worth a pound of cure. The negative impact a breach can have on your brand is far greater than any fine or lawsuit that could potentially be levied against you. That is why we specialize in developing custom security solutions that utilize the most advanced prevention, detection and response technologies available.

Have manpower or talent issues? Our managed security suite allows organizations to gain access to superb security engineers as needed without the expense and hassle of recruiting and hiring staff. Call us today to learn about how your organization’s future can become more secure.

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