Yahoo famously suffered numerous data breaches from 2012 to 2016, and Yahoo is informing users that they can now submit claims for either credit monitoring or cash compensation as part of a proposed class action lawsuit settlement. Yahoo says if you had a Yahoo account anytime between 2012 and 2016 and are a resident of the US or Israel, the class action settlement may affect you.
The total amount of the settlement fund is $117.5 million, up from a proposed $50 million settlement that was rejected by a judge. Yahoo will use that settlement fund to pay for:
A minimum of two years of credit monitoring for individual users
A cash payment of $100 to users who can prove they already have at least 12 months of credit monitoring (though the final cash amount may be higher or lower depending on how many claims are filed)
Compensation for time spent dealing with issues resulting from the data breaches
Out-of-pocket costs users may have had to pay as a result of having their information stolen in the data breaches, such as paying an accountant to help refile a falsified tax return
Reimbursement for some costs of Yahoo’s premium or small business services
If you want to file a claim, you can find the forms right here. You must submit your claim online or by mail by July 20th.
Just remember the Equifax situation if a ton of people go through this process and opt for the cash payment, you’re not getting anything close to $100.
