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Yahoo Under SEC Investigation for Not Disclosing Massive Data Breach Sooner
Yahoo is under investigation from the Securities and Exchange Commission over its failure to disclose its massive data breaches sooner, according to The Wall Street Journal.
In September 2016, the internet company revealed that an unidentified hacker had stolen the personal data of "at least" 500 million users. Then last month, the internet company admitted that over one billion Yahoo user accounts had been compromised in a hack dating back to August 2013. Information stolen included names, email addresses, phone numbers, birth dates, hashed passwords, security questions and answers.
According to today's report, the SEC is investigating why Yahoo waited years before disclosing the massive data breach, despite the fact that some staff had known about the incident since at least 2014. The SEC has requested documents from Yahoo relating to the hacks in order to decide whether the internet giant could have reported the breach to investors sooner.
Yahoo is currently negotiating a takeover bid by Verizon, who is reportedly seeking a $1 billion discount off an original $4.8 billion buyout agreement because of the hacking revelations. It's unclear what impact the SEC investigation will have on the deal, but Yahoo's share price had already fallen following the news.
In September 2016, the internet company revealed that an unidentified hacker had stolen the personal data of "at least" 500 million users. Then last month, the internet company admitted that over one billion Yahoo user accounts had been compromised in a hack dating back to August 2013. Information stolen included names, email addresses, phone numbers, birth dates, hashed passwords, security questions and answers.
According to today's report, the SEC is investigating why Yahoo waited years before disclosing the massive data breach, despite the fact that some staff had known about the incident since at least 2014. The SEC has requested documents from Yahoo relating to the hacks in order to decide whether the internet giant could have reported the breach to investors sooner.
Yahoo is currently negotiating a takeover bid by Verizon, who is reportedly seeking a $1 billion discount off an original $4.8 billion buyout agreement because of the hacking revelations. It's unclear what impact the SEC investigation will have on the deal, but Yahoo's share price had already fallen following the news.
Tag: Yahoo
[ 48 comments ]
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27 months ago
Yahoo is really disappointing what happened these last few years and how their security deteriorated. Yahoo never used to be like this in the years past, now its a mine field loaded with click bait and garbage posts.
Whatever Yahoo has coming to them, they earned it.
Whatever Yahoo has coming to them, they earned it.
27 months ago
Its about time, I was wondering how they were able to get away with sweeping it under the rug like they did.
27 months ago
Wow, that's one I haven't heard of yet. Thanks, I'll check it out. Yea, I meant more for Mac, but see they have a Mac version. I think one of these days, we're going to have to start worrying about it, on the Mac. (My Windows machines are just VMs that I don't worry about too much.)
If you want one which is on-demand only, Malwarebytes Anti-Malware for Mac ('https://www.malwarebytes.com/mac/') should fit the bill.
27 months ago
As for Yahoo, an SEC investigation is certainly in order... but this has nothing to do w/ Mac or Apple.
Only natural for crooks to be investigated.
What makes them crooks? Unethical, yes, but crooks? Was there a massive stock sell off in 2014?
27 months ago
Unfortunately, IMO, they seem to have a couple of major things in common that I don't like. They both forgot the core business and things that made the company great, and then took a Business-school 101 approach to growth. Cook just has a WAY bigger head start, and the company wasn't three-quarters ruined when he took it over.
Wow, that's one I haven't heard of yet. Thanks, I'll check it out. Yea, I meant more for Mac, but see they have a Mac version. I think one of these days, we're going to have to start worrying about it, on the Mac. (My Windows machines are just VMs that I don't worry about too much.)
I have used it before on my Mac. It was just as lightweight as the Windows version. I barely noticed it was running.
27 months ago
Yahoo! has many different companies underneath including Tumbler and Flickr. The fact they waited so long to let anyone know about the problem is incompetence at best. They need to investigate and someone needs to be held accountable (i.e. fired, fined). Good luck with the purchase Verizon - seems like a bad deal all around.
Edit: my comment about the subsidiaries was just me wondering how far this goes? Because you sign in to all subsidiaries with the same login, you are exposed in areas you may not even be aware of.
Edit: my comment about the subsidiaries was just me wondering how far this goes? Because you sign in to all subsidiaries with the same login, you are exposed in areas you may not even be aware of.
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