Altaba CEO Thomas McInerney announced the holding company will pay a total of $47 million to settle three lawsuits related to Yahoo data breaches. The three settlements cover a case with the U.S. Securities and Exchange Commission, a case alleging the tech company misled shareholders about its practices, and a class-action lawsuit. Both the consumer class-action lawsuit and the shareholder lawsuit are still subject to court approval. “Together, these developments mark a significant milestone in cleaning up our contingent liabilities related to the Yahoo data breach,” McInerney states.
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