SUNNYVALE, Calif.—Yahoo’s massive data breach is going to cost the company a lot more money.
Yahoo's 2013 data breach compromised three billion accounts – the largest of all time –and will cost the company an additional $85 million after a newly reached settlement orders the company to pay $50 million in damages, cover attorneys' fees up to $35 million and provide free credit-monitoring services to victims of the breach.
As CUToday.info reported, the enormous breach took place in 2016 but Yahoo did not report the full scale of the breach until one year later. Names, email addresses, birthdates, phone numbers were all exposed, but financial information was not, according to the company.
Yahoo, currently known as Altaba, agreed earlier this year to pay a $35 million penalty to the Securities and Exchange Commission for failing to notify customers of the breach in a timely fashion.
The new settlement needs to be approved by the U.S. District Court for the Ninth Circuit.