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January 22, 2019

Data Breach-Related Lawsuit Settlement May Have Major Consequences

Kevin LaCroix of D&O Diary said the $29 million settlement of a Yahoo data breach-related derivative lawsuit may “have important implications for future data breach-related derivative litigation.”

LaCroix called this settlement “noteworthy” because it is the “first significant recovery in a data breach-related derivative lawsuit” that comes with a $10.6 million attorneys’ fee award that may “encourage others to seek to pursue these kinds of cases.” Though the circumstances around the Yahoo breach are different than those of other major breaches, LaCroix still says the recovery may spark other groups of shareholders to file similar suits.

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