Yahoo Inc. will file settlement papers next month resolving a raft of consumer class actions brought over its recent data breaches, according to court documents during the past week.
In a Sept. 14 notice, Yahoo attorney Ann Mortimer of Hunton Andrews Kurth in Los Angeles and lead plaintiffs’ counsel John Yanchunis, of Morgan & Morgan in Tampa, told U.S. District Judge Lucy Koh in the multidistrict litigation in federal court in San Jose, California, that both sides had reached an “agreement in principle.” They gave no details about the deal, but Yahoo, now called Altaba Inc., said in a Sept. 17 filing with the U.S. Securities and Exchange Commission that it had set aside $47 million in additional expenses to help pay for class actions related to the breach. Earlier this month, Koh gave final approval to an $80 million settlement to resolve shareholder lawsuits relating to the breaches.
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