Yahoo offers $117 million to settle 2016 data breach suit

Yahoo has more than doubled its proposed data breach
settlement payout to $117.5 million after having a smaller amount rejected by a
California judge in January.

The original $50 million amount was rejected by U.S.
District Judge Lucy Koh who said she couldn’t declare the settlement
“fundamentally fair, adequate and reasonable” because it did not say how much
victims could expect to recover, according to court documents. The settlement
would cover at least $55 million for victims’ out-of-pocket expenses and other
costs, $24 million for two years of credit monitoring, up to $30 million for
legal fees, and up to $8.5 million for other expenses, Reuters
reported.

The amount would be used to settle a class action suit
brought to compensate the estimated 194 million victims impacted by the data
breach that saw almost one billion email addresses compromised during the 2016
incident
.

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