News & Analysis as of

Yahoo!

SEC Issues First Ever Enforcement Action For Failure to Disclose a Data Breach, Obtaining $35 Million Penalty

by Holland & Hart LLP on

The U.S. Securities and Exchange Commission announced on April 24, 2018 that Yahoo! (now known as Altaba, Inc.) agreed to pay a $35 million civil penalty to resolve claims that it failed to appropriately and timely disclose...more

SEC Announces Yahoo Will Pay $35 Million for Failure to Disclose Data Security Incident

by Jones Day on

The Situation: The SEC accused Altaba Inc., then known as Yahoo! Inc., of misleading investors by failing to disclose a major data breach orchestrated by Russian hackers. The Result: Altaba has agreed to pay $35 million to...more

SEC Hits Yahoo With $35M Fine

Just weeks after publishing guidance on cybersecurity, the Securities and Exchange Commission (SEC) assessed a $35 million penalty against Yahoo! Inc. for allegedly misleading investors concerning a major data breach....more

The Hacked & the Hacker-for-Hire: Lessons from the Yahoo Data Breaches (So Far)

by Ballard Spahr LLP on

The fallout from the Yahoo data breaches continues to illustrate how cyberattacks thrust companies into the competing roles of crime victim, regulatory enforcement target and civil litigant. ...more

The SEC Fines Yahoo for Alleged Failure to Disclose CyberBreach

by Poyner Spruill LLP on

The Securities and Exchange Commission (SEC) has undertaken its first enforcement action in connection with a public company’s failure to timely disclose cyber-issues. Last month, Altaba Inc., the former Yahoo! Inc. (Yahoo!),...more

Between a Rock and a Hard Place: SEC Disclosure Analysis in Light of Yahoo Settlement

by McGuireWoods LLP on

On April 25, the Securities and Exchange Commission announced a settlement with Yahoo that constituted its first enforcement action against a public company for failing to disclose a data breach. This settlement...more

It’s a material world - why the SEC’s Yahoo! penalty really matters

In the aftermath of the April 24, 2018, Securities and Exchange Commission (SEC) statement announcing its penalty against Altaba Inc., formerly Yahoo! Inc. (Yahoo!), for failing to timely report a massive data breach,...more

$35 Million Yahoo Fine Reflects SEC’s Heightened Cybersecurity Focus

by Ropes & Gray LLP on

On April 24, 2018, the Securities and Exchange Commission (“SEC”) announced the settlement of its first-ever enforcement action against a company for an alleged failure to disclose a cybersecurity breach. Altaba Inc., the...more

Yahoo’s $35M SEC Settlement: Takeaways from the First Enforcement Action for Failure to Disclose a Data Breach

by Fenwick & West LLP on

The U.S. Securities and Exchange Commission announced on April 24, 2018, that Yahoo! — now known as Altaba — agreed to pay a $35 million penalty to settle claims that the company failed to timely disclose a 2014 data breach...more

Yahoo! Settlement Affirms SEC's Focus on Cybersecurity Disclosures

by Williams Mullen on

In late April 2018, the SEC and Altaba (formerly known as Yahoo!) agreed to a $35 million penalty to settle charges that Yahoo! misled investors by failing to disclose to investors its December 2014 data breach in which...more

Altaba (Yahoo) Agrees to Pay $35 million Penalty as SEC Continues to Emphasize Importance of Cybersecurity Data Breach Disclosures

On April 24, 2018, the Securities and Exchange Commission (the “SEC”) announced that Altaba Inc. (f/k/a Yahoo! Inc.) agreed to pay a $35 million penalty relating to charges that it misled investors with respect to disclosure...more

Yahoo Fined $35 Million for Failing to Report Data Breach

by Fisher Phillips on

On April 24, 2018, the Securities Exchange Commission (SEC) announced a $35 million fine against the company formerly known as Yahoo! Inc. (now known as Altaba, Inc.) for failing to disclose a massive cyber data breach to its...more

An Unasserted Lesson of the SEC’s Yahoo Cyberbreach Enforcement Action

by Locke Lord LLP on

Much has already been written about the SEC’s enforcement action involving Yahoo’s failure to adequately disclose a cyberbreach.1 I am writing about something that the SEC’s announcement and order did not address and...more

SEC Fines Yahoo $35 Million for Failure to Timely Disclose a Cyber Breach

by White & Case LLP on

On April 24, 2018, the Securities and Exchange Commission (the "SEC") announced that Altaba Inc. f/d/b/a Yahoo! Inc. ("Yahoo") agreed to pay a $35 million penalty to settle charges that it misled investors by failing to...more

SEC Issues $35 Million Fine For Alleged Failure To Disclose Data Breach

by Shearman & Sterling LLP on

On April 24, 2018, the United States Securities and Exchange Commission (“SEC”) instituted a settled administrative proceeding against Altaba Inc., f/d/b/a Yahoo! Inc. (“Yahoo!”) for allegedly failing to disclose a...more

SEC Targets Inadequate Cyberbreach Disclosure in Yahoo! Settlement

by WilmerHale on

On April 24, 2018, the Securities and Exchange Commission announced a settled enforcement proceeding against Altaba Inc. (formerly known as Yahoo! Inc.) arising out of data breaches suffered by Yahoo in 2014, 2015 and 2016....more

Bridging the Weeks - April 2018 #5

J. Christopher Giancarlo, Chairman of the Commodity Futures Trading Commission, proposed reforms to enhance swaps trading and reporting, the central clearing of swaps, swaps dealers’ capital, and persons subject to mandatory...more

SEC Announces Its First Enforcement Action Over Cyber-related Disclosures

by Alston & Bird on

The Securities and Exchange Commission’s $35 million settlement with Altaba Inc., the successor in interest to Yahoo! Inc., is the first civil penalty of its kind for a data breach and underscores the agency’s increasing...more

Failure to Disclose Leads to $35 Million Penalty in the Yahoo! Cybersecurity Breach

by Dorsey & Whitney LLP on

The Securities and Exchange Commission (the “SEC”) announced Tuesday that Altaba, the entity formerly known as Yahoo! Inc., has agreed to pay a $35 million penalty to settle charges that it misled investors by failing to...more

SEC Penalizes Yahoo $35 Million For Massive, Undisclosed Cyber Theft

by Dorsey & Whitney LLP on

Cyber security has evolved into a key issue for every company. Media reports continue to chronicle new breaches....more

Yahoo Settles Claims by SEC regarding 2014 Data Breach

by Murtha Cullina on

Yesterday, the Securities and Exchange Commission (SEC) announced an important administrative settlement with Altaba (Yahoo) related to the company’s failure to disclose a major security breach to its users and investors....more

Does Yahoo’s SEC Cyber Disclosure Settlement Set Enforcement Bar?

The U.S. Securities and Exchange Commission’s $35 million settlement announced this week over the Yahoo! data breach provides an object lesson in the consequences of failing to publicly disclose a major cyber-attack....more

Your Daily Dose of Financial News

by Robins Kaplan LLP on

A scary combination of rising bond yields (across the 3% Rubicon!) and a warning from Caterpillar (which called its expectation-beating performance for Q1 the “high watermark for the year”) helped propel stocks significantly...more

Yahoo/Altaba Agree to $35 Million SEC Penalty for Failure to Disclose Massive Security Breach

In perhaps the SEC’s first major shot across the bow, Yahoo (now known as Altaba) has agreed to pay the SEC $35 million for failure to disclose a massive security breach to its investors. I’m guessing Equifax, Facebook and a...more

No Celebration For Yahoo! Data Breach Claims Survive Motion To Dismiss

by Carlton Fields on

After Yahoo! Inc. suffered three data breaches in a span of four years, plaintiffs brought a putative class action lawsuit against the internet service provider and a subsidiary (collectively, “Yahoo”), alleging defendants...more

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Cybersecurity

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