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Yahoo Offers $118 Million To Settle Lawsuit Over Massive Data Breach (cnn.com)

Posted by BeauHD on from the drop-in-a-bucket dept.

Yahoo is offering to pay $117.5 million to settle its massive data breaches that compromised personal information, including email addresses and passwords. "The proposed settlement was announced on Tuesday, but still needs to be approved by U.S. District Judge Lucy Koh," reports CNN. From the report: Earlier this year, a different version of the class-action settlement was rejected by Koh, who wanted to see more benefit to consumers and a specific settlement amount. Yahoo was hit by multiple data breaches from 2013 to 2016. The 2013 breach affected every single customer account that existed at the time, which totaled 3 billion. Yahoo previously said names, email addresses and passwords were compromised but not financial information.

30 comments

  1. That is a ridiculously small amount by themusicgod1 · · Score: 2

    less than a dollar per password? Come on.

    --
    GENERATION 26: The first time you see this, copy it into your sig on any forum and add 1 to the generation.
    1. Re:That is a ridiculously small amount by Iwastheone · · Score: 3, Interesting

      Tort law, lawyers make most of the money from class action lawsuits. The Bonfire of the Vanities was a book, later a movie. Basically the lawyers make the bulk of the money, any litigants who join in get milli-pennies. https://en.wikipedia.org/wiki/... https://www.youtube.com/watch?...

    2. Re:That is a ridiculously small amount by Anonymous Coward · · Score: 0

      less than a dollar per password? Come on.

      More like less than 5 cents. A better solution would be to fine them $500 times 3 billion. That, will show them

  2. I accept by Anonymous Coward · · Score: 0

    Thanks

  3. Whoa! by Ol+Olsoc · · Score: 2

    Given the math and the lawyers fees, it looks like the entire population of the world all owes the law firm Dewey, Cheatham and Hough a hundred dollars per person.

    --
    The shepherds did so well protecting the flock that the sheep no longer believed that wolves existed.
  4. Less Than $0.04 Per Account by Anonymous Coward · · Score: 1

    That's less than four cents per account.

    1. Re: Less Than $0.04 Per Account by Anonymous Coward · · Score: 0

      Should have been a lawyer. But I am an engineer

    2. Re:Less Than $0.04 Per Account by Anonymous Coward · · Score: 0

      They should use RIAA math where each account is worth $20,000

      The sad thing will be, if it is accepted the managers will pay themselves a huge bonus because "it could have been worse"

  5. The consumers don't benefit by TheRealMindChild · · Score: 4, Insightful

    a different version of the class-action settlement was rejected by Koh, who wanted to see more benefit to consumers and a specific settlement amount.

    So 500 million accounts compromised. -33.3% for lawyer fees, = ~$78.67M left for payout. That leaves us with $0.16 per account compromised. How it that at all a benefit to anyone but the lawyers

    --

    "When life gives you lemons, don't make lemonade. Make life take the lemons back!" -- Cave Johnson
    1. Re: The consumers don't benefit by Anonymous Coward · · Score: 0

      âoeEverybody elseâ did not obtained anything, not even close. The lawyers deserve a cut of whatever they are able to squeeze. Everybody else is free to try better, duh!

    2. Re: The consumers don't benefit by Anonymous Coward · · Score: 0

      So the attorneys did $38 Million worth of work in this case?

      FUCK NO THEY DIDN'T!

      Someone please sue these attorneys...

    3. Re: The consumers don't benefit by Anonymous Coward · · Score: 0

      $38 Million in legal fee's could be considered excessive overcharging way beyond the purview of ANY "reasonable fee" and is subject to disciplinary action by their respective board of professional responsibility.

    4. Re: The consumers don't benefit by Anonymous Coward · · Score: 0

      Nice try.

      This is like the lottery of lawyering. Lawyers don't get paid much of anything to explore and try the cases, but if they pay out big, they pay out big. It's not common for these kinds of cases to go anywhere, much less win much of value, and without the high ratio of potential compensation to inputs they wouldn't get near the attention they have today.

      And before you say they didn't put 38 million worth of work into it - let's see how you feel about actors and athletes.

    5. Re:The consumers don't benefit by Anonymous Coward · · Score: 0

      So 500 million accounts compromised.

      TFS says "[t]he 2013 breach affected every single customer account that existed at the time, which totaled 3 billion."

    6. Re:The consumers don't benefit by NicknameUnavailable · · Score: 1

      The lawyer should be jailed along with the board of Yahoo! for this.

    7. Re:The consumers don't benefit by Anonymous Coward · · Score: 0

      a different version of the class-action settlement was rejected by Koh, who wanted to see more benefit to consumers and a specific settlement amount.

      So 500 million accounts compromised. -33.3% for lawyer fees, = ~$78.67M left for payout. That leaves us with $0.16 per account compromised. How it that at all a benefit to anyone but the lawyers

      How is it we're still asking that question after the last 100 class action lawsuits have resulted in the same fucking thing for consumers.

      Class actions have always been a massive revenue source for legal firms. That's about the only reason they're still worth the effort for lawyers. It sure as hell isn't effective as a deterrent for companies.

  6. Attorneys? by Anonymous Coward · · Score: 0

    Anyone else notice that a lot of laws seem to be specifically designed to make the attorneys rich almost like it was designed by legal professionals?

    Oh wait......

  7. SUE THE ATTORNEYS by Anonymous Coward · · Score: 0

    Everyone file a lawsuit against these attorneys for misrepresentation and outrageous legal fee's exceeding what is considered a "reasonable fee."

    No one seems to understand that this is an illegal business practice on behalf of attorneys!

    1. Re:SUE THE ATTORNEYS by geekmux · · Score: 2

      Everyone file a lawsuit against these attorneys for misrepresentation and outrageous legal fee's exceeding what is considered a "reasonable fee."

      No one seems to understand that this is an illegal business practice on behalf of attorneys!

      Fortunately, I found a million lawyers who readily admit that this is an illegal business practice.

      Unfortunately, I couldn't get a single fucking one of them to take the case to court.

  8. Re:what percent of the winnings by dcw3 · · Score: 1

    I'm guessing you just hate Jews (I'm not one btw). Please support your case with a shred of evidence before trolling again.

    --
    Just another day in Paradise
  9. Data Breach is being the biggest thing these days by fmwhatsappapk · · Score: 1

    I have come across many more data breaches and learnt a lot of information about them. It's a nice move from yahoo to be frank since it's trying to put things in a right manner. https://fmwhatsappapk.com/

  10. Yahoo? by nospam007 · · Score: 1

    It's dead, Jim.

    1. Re:Yahoo? by Albert71292 · · Score: 1

      They are owned by Verizon now.

      --
      "A Bird In The Hand Will Poop On Your Wrist"-Benny Hill,1982
  11. So... by Anonymous Coward · · Score: 0

    How do I go about receiving my 0.04 cents?

  12. Re:Data Breach is being the biggest thing these da by Anonymous Coward · · Score: 0

    What the heck does your posted link have to do with data breaches? Has FMWhatsApp also exposed people's sensitive data or are you just spamming?

  13. Cheatham - at least they aren't shameless by Anonymous Coward · · Score: 0

    Cheatham all out of that money you fucking cheats

  14. Marissa Mayer by Anonymous Coward · · Score: 0

    That horse faced whinnny needs her teeth kicked out. Fucking cunt.

  15. Yahoo? by Anonymous Coward · · Score: 0

    Still has money?

  16. ALEX STAMOS, FORMER CSO OF FACEBOOK EVERYBODY by Anonymous Coward · · Score: 0

    What does the CISO of Yahoo do after presiding over the BIGGEST PII breach in history? Why, they get promoted of course to CSO of Facebook!

    ALEX STAMOS, EVERYONE! CONGRATS ON BEING THE SHITTIEST SECURITY LEADERSHIP PROFESSIONAL.