Following several data breaches between 2012 and 2016, a class action settlement has been proposed to Yahoo and the firm has seemingly taken it.
This follows on from a notice sent out by the United States District Court Northern District of California San Jose at the weekend.
The settlement will see Yahoo provide a minimum of two years of credit monitoring for affected users or, a cash payout for those who can prove they already have credit monitoring and identity protection services.
In total Yahoo will pay $117 500 000 in settlements with payouts ranging from $100 to $358.80. Obviously, this figure will dip depending on how many folks participate in this settlement.
And that is where the sticking point comes in.
The settlement can only be joined if you had a Yahoo (and associated services) account between 2012 and 2016, you are a resident of the United States or Israel, or if you are a “Settlement Class Member”.
There are of course deadlines for filing claims with the most notable being the 6th of March. This date is important because it’s the final date that you can request permission to be excluded from the class action lawsuit. Why would you want to do that? To pursue your own lawsuit against Yahoo for claims related to data breaches.
The settlement still has to be approved by a court and credit monitoring services and payments will only be dispensed once that approval has happened. According to the court this process can take more than a year to complete.
With the deadline for claims to be filed currently earmarked for 20th July 2020, it could be some time before the settlement is dispersed.