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Yahoo agrees to pay $50 million to data breach victims
Yahoo will have to cough up $50 million in damages as part of a settlement following massive data breaches that took place in 2013 and 2014. The first breach affected three billion accounts, while the second affected 500 million accounts -- neither were disclosed until 2016. Hacked information included passwords that were encrypted but could be cracked.
What’s left of Yahoo slapped with $35 million fine over 2014 data breach
In 2014, Yahoo suffered a breach that exposed personal data for 500 million users -- but they refused to tell anyone and the news didn't break until late 2016. For failing to disclose the incident and inform anyone affected, the company formerly known as Yahoo! (now Altaba, consisting of the parts that didn't merge with Verizon to become Oath) has agreed to pay the SEC a $35 million fine.
Marissa Mayer to resign from Yahoo's board of directors
Marissa Mayer has been virtually synonymous with Yahoo ever since she took the helm, but things are about to get a bit muddier now that the Verizon's acquisition is near closing. Yahoo has announced that Mayer, co-founder David Filo and four other people are resigning from the company's board of directors once Verizon officially takes control. According to the SEC filing, it's "not due to any disagreement" with how the business is run -- it's just that Yahoo will technically be considered an investment company once the buyout wraps up, and doesn't believe it needs more than five people on its board after that.
