$117.5M Yahoo Data Breach Class Action Settlement Sends Payments

Photo Credit: Unsplash | Updated: August 8, 2023

Settlement Status: Payouts Sent

Claim Form Deadline: July 20, 2020 (Passed)

Estimated Payout: $6 - $500+

Proof required: No

What's the Yahoo Data Breach Settlement About?

As of June 2023, payments are being reported by users as being received. Some payments are being reported upwards of $500 per person, received digitally.

A $117.5 Million Yahoo Data Breach Class Action Settlement has been settled. According to this list of data breaches, the Yahoo data breach of 2018 is the largest recorded data breach in history, impacting over 3 billion records. This Yahoo data breach settlement addresses the significant data breaches and security intrusions that occurred between 2012 and 2016 that affected Yahoo users' sensitive or personally identifiable information, affecting Yahoo Inc. and its subsidiary, Aabaco Small Business LLC. These incidents resulted in malicious actors gaining unauthorized access to the system and potentially compromising personal data. The settlement aims to provide compensation and improved security measures for individuals who were affected by these breaches.

How Do I Qualify?

To be eligible for payment as a member of the settlement class, you must meet the following criteria. If you meet these qualifications, you are considered a Settlement Class Member and have the right to participate in the settlement and potentially receive compensation.

• You received a notice about the data breaches or had a Yahoo account between January 1, 2012, and December 31, 2016.
• You are a resident of either the United States or Israel.

How Much Will I Get Paid?

The settlement includes the establishment of a Settlement Fund amounting to $117,500,000. This fund will be distributed among eligible class members. The specific payment amount for each participant will depend on various factors, including the nature of the losses suffered and the total number of individuals participating in the settlement. Compensation may include the following:

• Credit Monitoring Services: Eligible class members can receive a minimum of two years of credit monitoring services to safeguard their personal information from future harm.

• Cash Compensation: If you already have credit monitoring services and can verify their continued usage for at least one year, you may opt for a cash payment of $100. The exact amount may vary based on the total number of participants in the settlement and their chosen options.

• Out-of-Pocket Losses: Those who have documented out-of-pocket losses, including lost time, resulting from the data breaches may receive reimbursement of up to $25,000. This includes compensation for up to fifteen hours of lost time at a rate of $25.00 per hour, or unpaid time off work at the actual hourly rate, whichever is higher. If the lost time is not documented, participants may be eligible for payment for up to five hours at the same rate.

• Paid User Costs and Small Business Costs: Individuals who paid for premium or advertisement-free Yahoo Mail services or Aabaco Small Business services may seek reimbursement for a portion of these costs.

How Do I File a Claim and Get Paid?

To file a claim and receive payment, follow these steps: • Determine the type of claim you are eligible for, such as credit monitoring services, out-of-pocket costs, paid user costs, or small business costs.
• Visit the settlement website and carefully review the provided FAQs for detailed instructions on filing each specific claim.
• Make sure to meet the respective claim submission deadlines specified on the website.