If you were among the billions of individuals whose personal information was compromised in one of Yahoo’s significant data breaches, you might be entitled to a cash settlement. Between 2013 and 2016, Yahoo experienced two major breaches that affected around three billion accounts, leading to the theft of emails and passwords. Unlike the Equifax breach that exposed sensitive financial data of over 147 million people in 2017, the Yahoo incidents did not involve bank account or credit card details.
If your account was affected, you could potentially receive a settlement of $358 or opt for two years of credit monitoring services. This is part of a Class Action Settlement that California courts are set to review, which mandates Yahoo to establish a payout fund of $117.5 million. Individuals affected can choose between receiving credit monitoring services or a cash payout if they can confirm they already have monitoring in place.
For instance, if you can provide proof of an active credit monitoring service, you could claim $100. However, if the number of claims is low, your payout could increase significantly—up to $353. Moreover, individuals who demonstrate actual out-of-pocket losses or those who paid for ad-free or premium Yahoo Mail services may receive additional compensation, with claims capped at $25,000.
Eligibility Criteria
To be classified as a member of the settlement class, you must meet these criteria:
- You had a Yahoo account from January 1, 2012, to December 31, 2016.
- You received notification regarding the data breaches.
- You reside in the United States or Israel.
How to File a Claim
Filing a claim is straightforward. Visit YahooDataBreachSettlement.com, and click on “FILE CLAIM.” You’ll need to choose from different claim forms based on your account status. Make sure to submit your claim by July 20, 2020. However, don’t expect a prompt payout; the approval process could take over a year as it awaits judicial approval. The final fairness hearing is scheduled for April 2020, with payments likely disbursed afterward.
Keep in mind, if the settlement pool is extensive, similar to the Equifax case, your payout may be smaller than expected. Also, if you opt for the cash settlement, prepare to provide proof of your credit monitoring service. With the ongoing risks associated with data breaches, investing in a credit monitoring service is a wise decision.
Additional Resources
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Conclusion
In summary, if you had a Yahoo account during the specified time and received notice of the breaches, you may be eligible for compensation. Be proactive and file your claim before the deadline to ensure you receive any potential benefits.
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