Yahoo Offers $117.5 Million to Settle Data Breach Lawsuit

A 2013 data breach in Yahoo affected a massive 3 billion users.

A Yahoo logo is pictured in front of a building in Rolle, east of Geneva. 

(Photo: Reuters)

Yahoo could end up paying $117.5 million to settle massive data breaches that compromised people's personal information like email addresses and passwords, CNN reported.

The company proposed the settlement on Tuesday, 9 April, and will go ahead, pending an approval by US District Judge Lucy Koh.

According to the report, Koh had rejected the class-action suit once earlier this year, and asked for more benefit for customers and a specific settlement amount.

Yahoo, which was acquired by Verizon in 2016 has been hit by multiple data breaches between 2013 to 2016. The 2013 breach had, in fact, affected every Yahoo user. A total 3 billion people used the services.

Yahoo had said that people's names, email addresses and passwords were compromised but not their financial information.

Verizon acquired Yahoo for $4.48 billion. "We believe that the settlement demonstrates our strong commitment to security," a Verizon Media spokesperson told CNN.

(With inputs from CNN.)