Yahoo! Inc. and customers have reached a new class settlement resolving data breach claims after a federal court said their first deal lacked detail.

The amended settlement “provides the biggest common fund ever obtained in a data breach case,” $117.5 million, class counsel says in an April 9 brief asking for preliminary approval.

In January, Judge Lucy H. Koh of the U.S. District Court for the Northern District of California identified six problems with the original deal, valued at $50...