The company formerly known as Yahoo Inc. has agreed to pay $35 million to settle SEC claims that it misled investors about a 2014 data breach that affected more than 500 million of its user accounts.
Yahoo employees learned of the breach of users’ data, including usernames, birth dates and telephone numbers, in late 2014, but didn’t disclose anything about it until after the 2016 announcement that the company’s operating assets would be acquired by Verizon Communications Inc., according to the U.S. Securities and Exchange Commission.
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