Yahoo, Investors Get Final Nod on $80M Class Settlement

Yahoo! Inc. and investors won final approval Sept. 7 of an $80 million settlement resolving claims the web services provider failed to disclose four data breaches.

“The $80 million settlement fund constitutes a good result for the class, and continued litigation would have been expensive and risky,” Judge Lucy H. Koh wrote for the U.S. District Court for the Northern District of California.

The settlement could embolden investors in other companies to pursue securities class actions over data breaches. At least 10 similar suits against other companies, including Facebook Inc., have been filed following the Yahoo case, according to Bloomberg ...