The Yahoo settlement would cover nearly 200 million people who had sensitive information snatched in the enormous hack.
Verizon has since written off much of the nearly $4.5-billion price for the Yahoo acquisition, a sign of Yahoo’s eroding value.
Lawyers representing the Yahoo account holders estimate that about 194 million people in the United States and Israel will be eligible to make claims, according to court documents. Those people collectively may have had about 896 million of the Yahoo accounts hit in the breach. The biggest piece of the revised Yahoo settlement disclosed in documents filed Tuesday consists of the free credit-monitoring services that will be offered to everyone covered by the deal to protect them from identity theft and other potential problems. The service from AllClear usually costs $14.95 a month or $359 for two years. People who already have a credit-monitoring service would be eligible for cash payments instead.
Yahoo account holders who paid $20 to $50 annually for premium email accounts would be eligible for refunds of up to 25%. People who had to spend time protecting their identities or dealing with other issues caused by the breach can seek to be paid at a rate of $25 an hour for up to 15 hours, a maximum of $375.
The settlement would also pay as much as $32.5 million in fees and other expenses to the lawyers representing Yahoo account holders, down from the $37.5 million sought in the earlier agreement — another sticking point for Koh.A look back, and ahead, at the latest California business news.
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