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23

Lessons for Corporate Boardrooms From Yahoo’s Cybersecurity Settlement

By Tony Seruga

The former officers and directors of Yahoo agreed to pay $29 million in a lawsuit over a series of data breaches.CreditCreditMarcio Jose Sanchez/Associated Press

That changed in the first month of 2019.

The former officers and directors of Yahoo agreed to pay $29 million to settle charges that they breached their fiduciary duties in their handling of customer data during a series of cyberattacks from 2013 until 2016. Three billion Yahoo user accounts were compromised in the attacks. The settlement ended three so-called derivative lawsuits filed in Delaware and California against the company’s former leadership team and board, including Marissa Mayer, Yahoo’s former chief executive. Insurance coverage will pick up the tab…

Lessons for Corporate Boardrooms From Yahoo’s Cybersecurity Settlement

Categories : Private Equity

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