If approved by the U.S. district judge, Yahoo will pay tens of millions of dollars to settle a lawsuit stemming from a series of data breaches that affected as many as three billion email accounts worldwide.
The settlement would require Yahoo to pay $50 million in compensation to 200 million Yahoo users in the United States and Israel. Yahoo would also pay an additional $35 million in attorney fees and provide two years of credit monitoring to affected individuals, as well a compensation package to small businesses and individuals that suffered losses from the breaches.
The data breaches started in 2013, but were not revealed until Verizon purchased Yahoo in 2016. Yahoo is now owned by Verizon and Altaba, which will each pay half of the settlement amount.
In 2017, the U.S. Department of Justice charged two Russian intelligence officers of conspiring to steal the data of 500 million Yahoo users in 2014. They allegedly used the data to target U.S. organizations and individuals, including the White House. Clyde Hughes "Yahoo agrees to pay $50M for breach that hit billions of accounts" upi.com (Oct. 24, 2018).