First Class Action Against Yahoo! for Largest Data Breach in History Filed by Labaton Sucharow and Robbins Geller Rudman & Do...
September 23 2016 - 5:33PM
Labaton Sucharow LLP and Robbins Geller Rudman & Dowd LLP
jointly filed a class action today against Yahoo! Inc. (Yahoo)
(NASDAQ:YHOO) concerning an unprecedented breach of the tech
giant’s security affecting approximately 500 million users.
In a statement released yesterday, September 22, 2016, Yahoo
noted that a “recent investigation” confirmed that sensitive
personal account information associated with at least 500 million
user accounts “was stolen from the company’s network in late 2014
by what it believes is a state-sponsored attack.” The stolen
information included users’ names, email addresses, telephone
numbers, dates of birth, hashed passwords, and in some cases,
encrypted or unencrypted security questions and answers.
Reports indicate that this data breach was the largest from
a single site in history.
The plaintiffs allege that Yahoo’s actions constituted a
reckless disregard for the safety and security of Yahoo users’
personal information and assert that Yahoo should be responsible
for damages caused to its users. Unlike many other recent data
breaches, Yahoo has not offered users any assistance with identity
theft protection, even though its users are now at a much higher
risk of having their identities stolen and must pay out of their
own pockets to protect themselves.
In a joint statement, attorneys from Labaton Sucharow and
Robbins Geller said, “Yahoo’s failure to safeguard its users’ very
personal, sensitive information, in direct violation of its
promises, is utterly unacceptable in this day and age. The fact
that a breach of this magnitude went undetected at a tech giant
like Yahoo for two years is astounding.”
The case, Schwartz v. Yahoo Inc., 16-cv-05456 (N.D. Cal.), was
filed in the United States District Court for the Northern District
of California.
About Labaton Sucharow LLP Labaton Sucharow
prosecutes precedent-setting class actions, recovering billions of
dollars on behalf of defrauded consumers and investors. The Firm
offers complex litigation services in the areas of data privacy,
securities, antitrust, consumer protection, corporate governance
and shareholder rights law, as well as whistleblower
representation. Labaton Sucharow’s successful reputation is built
not only on its team of nearly 60 attorneys, but also on its
industry-leading in-house investigators, financial analysts, and
forensic accountants. Offices are located in New York, NY and
Wilmington, DE. For more information, visit labaton.com.
About Robbins Geller Rudman & Dowd
LLPRobbins Geller Rudman & Dowd LLP is widely
recognized as one of the leading law firms advising U.S. and
international institutional investors and other clients in complex
litigation emphasizing securities fraud, corporate takeovers,
shareholder derivative claims, consumer fraud, antitrust claims,
insurance fraud, and intellectual property, as well as
whistleblower protection and qui tam suits. With 200 lawyers in 10
offices, Robbins Geller has obtained many of the largest securities
class action recoveries in history and ranked first in both the
total amount recovered for investors and number of shareholder
class action recoveries in ISS’s SCAS Top 50 Report for each of the
last two years. Robbins Geller attorneys have shaped the law in the
area of securities litigation and shareholder rights, and have
recovered tens of billions of dollars on behalf of the Firm’s
clients. Robbins Geller not only secures recoveries for defrauded
investors, it also strives to implement corporate governance
reforms, helping to improve the financial markets for investors
worldwide, and to protect consumers from fraud and deceptive and
unfair trade practices. Please visit rgrdlaw.com for more
information.
Contact
Ivette Delgado, Communications Manager
212-907-0634
idelgado@labaton.com
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