The proposed class-action settlement made public on Tuesday was designed to address criticisms of U.S. District Judge Lucy Koh in San Jose, California. Koh said the original settlement was not "fundamentally fair, adequate and reasonable" because it had no overall dollar value and did not say how much victims might expect to recover. Yahoo, now part of New York-based Verizon Communications Inc, had been accused of being slow to disclose three data breaches affecting about 3 billion accounts from 2013 to 2016.
In a Monday night decision, U.S. District Judge Lucy Koh in San Jose, California, said she could not declare the settlement "fundamentally fair, adequate and reasonable" because it did not say how much victims could expect to recover. Yahoo, now part of New York-based Verizon Communications Inc, was accused of being too slow to disclose three breaches from 2013 to 2016 that affected an estimated 3 billion accounts.
Yahoo spin-off settles for $47m for 2013 data breach
Yahoo, most of whose assets were acquired by Verizon Communications Inc, said in 2016 that at least 500 million of its accounts had been hacked two years earlier. The Information Commissioner's Office (ICO) said it focused on the 515,121 UK accounts that London-based Yahoo UK Services oversaw as a data controller. The ICO investigation found Yahoo UK Services failed to protect the data and take steps to ensure parent Yahoo Inc complied with the appropriate data protection standards.
Yahoo fined £250,000 for 2014 data breach