Data breach might cost Yahoo $1billion

11. October 2016

The New York Post published that Verizon, which is about to purchase Yahoo for $4.8 billion, is now asking Yahoo for a $1 billion discount.

This is due to the fact that Yahoo announced only two weeks ago that it had been hacked two years ago and that at this time usernames and passwords for 500 million accounts were stolen. Furthermore, it was revealed that Yahoo had been ordered by a secret Foreign Intelligence Surveillance Court to investigate emails for terrorist signatures under the Foreign Intelligence Surveillance Act, but not under section 702.

According to the New York Post, a source said that AOL CEO, Tim Armstrong, “is getting cold feet” due to the “lack of disclosure” and therefore he is asking “Can we get out of this or can we reduce the price?”

 

Category: Data breach · USA
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