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Yahoo agrees to pay $87.5 million to settle data breach litigation

( October 23, 2018, 05:25 GMT | Official Statement) -- MLex Summary: Yahoo has agreed to pay $50 million to its users, plus $35 million in attorney fees and $2.5 million in costs, to settle class action litigation brought in the wake of a series of data breaches that exposed the personal information in 3 billion accounts, according to a motion for preliminary settlement filed with US District Judge Lucy Koh in San Jose, California. If the settlement is accepted by Koh, it would "resolve all pending litigation both here and in the parallel state court proceedings, and provide, by far, the largest available cash fund for data breach class members in history," the plaintiffs and Yahoo said in the joint filing. In addition to the proposed cash settlement, Oath Holdings, as successor to Yahoo’s operating business, has "also made, and continues to make, significant and substantive changes to its information security environment," the plaintiffs and Yahoo said in a joint filing.Please see attached motion for preliminary settlement approval....

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