A 2020 Yahoo Settlement is Finally Paying Out! Check your inbox, Yahoo is Sending checks out for the 2020 Class Action!
What's the $117.5M Yahoo Data Breach Settlement About?
As of June 2023, payments are being reported by users as being received in various payment forms, depending on what was selected with claimants filed claim forms in 2020. Some payments are being reported upwards of $530.00 per person, received digitally. The settlement is closed to new claims, this article is just to inform those who filed in 2020 that the settlement is sending payments now.
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 aimed to provide compensation and improved security measures for individuals who were affected by these breaches.
How Much Are People Getting Paid?
The settlement includeded the establishment of a Settlement Fund amounting to $117,500,000. This fund is being distributed among eligible class members. The specific payment amount for each participant 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.
The claims period has already ended - Check your inboxes, Venmo, PayPal, Zelle and other payment accounts, or even your physical mailboxes. Consumers are reporting Yahoo settlement payment checks of up to $530.00 per person! Some are only as little as $30.00.
What If I Already Missed the Yahoo Settlement?
Look for other Class Action Settlements you may qualify for by keeping track of new and upcoming open class action settlements. Find more information about the Yahoo settlement here.
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