Hacked by Russia? No Shield From Disclosure Duty, SEC Says

The company formerly known as Yahoo! Inc. has become the first corporation to learn the SEC will penalize a firm for alleged disclosure failures related to a cybersecurity breach, even if foreign government agents are allegedly behind the attack.

Yahoo, now known as Altaba Inc., agreed to pay $35 million to resolve claims it delayed telling investors about a cyber intrusion that allegedly allowed Russian hackers to steal personal data concerning hundreds of millions of user accounts, the Securities and Exchange Commission said April 24. The first-of-its-kind SEC case came after agency Chairman Jay Clayton said last year that the ...