Yahoo agrees to pay $117 million in breach settlement


Yahoo has reached a $117.5 million settlement with nearly 200 million people whose email addresses were hacked and personal information was stolen from their Yahoo accounts, the Associated Press reported Wednesday.

According to the AP, the settlement provides for two years of free credit-monitoring services and other possible restitution valued at $117.5 million.

The revised settlement includes at least $55 million for out-of-pocket expenses, $24 million for two years of credit monitoring, up to $30 million for legal costs and up to $8.5 million for other costs, according to Reuters.

The proposed class-action settlement comes in response to the largest data breach in history, Reuters reported Tuesday. The settlement, which was made public Tuesday, still requires the approval of U.S. District Judge Lucy Koh in San Jose, California.{mosads}

The previous deal offered to pay $50 million, but Koh questioned those initial calculations, according to AP.

The new figure is based on a more detailed breakdown of the effects of the security breach.

Yahoo’s current owner, Verizon, and Altaba will pay for the deal, the AP reported.

The case stems from what has been recognized as the largest data breach ever, in which 3 billion Yahoo accounts representing about 200 million people were compromised by hackers between 2013 and 2016.

The breach, which was not disclosed until 2016, involved the names, emails, addresses, dates of birth and phone numbers of affected users.

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