Yahoo’s $80M Securities Suit Settlement Gets Preliminary OK

Yahoo! Inc. has obtained preliminary court approval of its agreement to pay $80 million to settle claims alleging it failed to disclose four data breaches.

Yahoo shareholders alleged that the company violated federal securities law because the breaches, and its failure to properly disclose them, led to falling stock prices. The shareholders filed a class action in January 2017 in the U.S. District Court for the Northern District of California.

Judge Lucy H. Koh May 9 approved the settlement as fair and reasonable, pending a final settlement hearing set for Sept. 6.

Attorneys for the parties didn’t immediately respond to ...