Yahoo would pay $117.5 Million to settle data breach lawsuit

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Yahoo would be paying $117.5 million to settle massive data breaches that compromised people’s personal information like email addresses and passwords, CNN reported.

The company proposed the settlement on Tuesday, 9 April, and will go ahead, pending an approval by US District Judge Lucy Koh.

According to the report, Koh had rejected the class-action suit once earlier this year, and asked for more benefit for customers and a specific settlement amount.

Yahoo has been charged with multiple data breaches between 2013 to 2016. The 2013 breach had, in fact, affected every Yahoo user. A total 3 billion people used the services.

Yahoo had said that people’s names, email addresses and passwords were compromised but not their financial information.

Verizon acquired Yahoo for $4.48 billion. “We believe that the settlement demonstrates our strong commitment to security,” a Verizon Media spokesperson told CNN.