In 2013, 2014 and 2016, Yahoo reported data breaches that affected all three billion of its users, with the data including names, email addresses, phone numbers, dates of birth and hashed (one-way encrypted) passwords. It is considered the largest-ever breach of all time.
Now, three years since the event, the outcome of a class-action lawsuit has prompted the company to form a $117.5 million settlement fund to give back $100-378 to users who had Yahoo accounts between 2012 and 2016.
Under the Yahoo! Inc. Customer Data Security Breach Litigation Settlement, listed by the US District Court Northern District of California San Jose Division, ‘Settlement Class Members’ are encouraged to submit a claim to receive a minimum of two years of future Credit Monitoring Services, or, if they already have one that they will keep for at least one year, a claim for a cash payment of $100.
According to the Yahoo settlement form website, “If you received a notice about the Data Breaches, or if you had a Yahoo account at any time between January 1, 2012 and December 31, 2016 and are a resident of the United States or Israel, you are a ‘Settlement Class Member.’”
The compensation could go up to $378 depending on the number of settlement claims.
Up to 194 million people are expected to be eligible for the settlement claim. In addition, those who can document financial losses due to the breach can file claims of up to $25,000. However, to avail of this, here are the requirements, "You may additionally provide documentation or proof to receive reimbursement of up to $25,000.00 in out-of-pocket losses, including lost time, that you believe you suffered or are suffering because of the Data Breaches. As to documented lost time, you can receive payment for up to fifteen hours of time at an hourly rate of $25.00 per hour or unpaid time off work at your actual hourly rate, whichever is greater. If your lost time is not documented, you can receive payment for up to five hours at that same rate."
Claims must be made by July 20, 2020. However, the settlement is still pending final court approval, which will take place in April 2020.
The company also redesigned its logo for the first time since its overhaul in 2013 under then-CEO Marissa Mayer.
