Yahoo Faces Major Lawsuit Following 2013 Breach
In 2013, Yahoo suffered a massive security breach, leaving approximately one billion accounts compromised. The breach was not made public until 2016. Due to the lack of proper notification and security measures taken by Yahoo, several victims have suffered substantial financial burdens. A recent report stated,
“A man who was unable to file his tax return because a return had already been filed under his Social Security number, which led to numerous fraudulent charges on his credit cards plus $9,000 in college expenses for his daughters who were unable to apply for financial aid on time.”
In another instance, a woman said her compromised email account led to the theft of her Social Security benefits.
Yahoo claimed there is no way to tie the breach to these particular instances. However, US District Court Judge Lucy Koh disagreed. Judge Koh denied the company’s request to throw out the possibility for a consolidated class-action law suit.
The legal proceedings will also impact Verizon, the company which recently acquired Yahoo for $350 million. Although, Verizon was aware of the potential for legal issues as a result of the breach. It is because of this looming threat, Verizon was able to purchase the company for approximately 7.3% of their initial offer ($4.8B).
The Yahoo data breach lawsuit will be handled by ClassAction.com. If you were a victim of the breach, and suffered damages as a direct result, you may obtain additional information regarding the lawsuit here. Victims are also able to contact ClassAction.com for a free consultation at 888-987-4303.