Welcome

Verizon Wins $400 Million Set-Aside in Yahoo Dissolution Case

Oct. 12, 2021, 7:17 PM

Yahoo Inc. successor entity Altaba Inc. must set aside $400 million as it dissolves to cover the “unlikely” event that an appeals court overturns a $118 million data breach settlement it’s splitting with Verizon Communications Inc., which bought and resold the Yahoo brand, a Delaware judge ruled.

Vice Chancellor J. Travis Laster directed Altaba to add $341 million to the $59 million it previously reserved to fund the data breach settlement. Altaba is a holding company partway through the yearslong process of dissolving, “winding up,” and returning tens of billions to its backers.

The company “seeks to establish a ...

To read the full article log in. To learn more about a subscription click here.