If you were among the billions whose personal information was compromised in Yahoo’s data breaches, you might be entitled to a cash settlement of up to $358. From 2013 to 2016, Yahoo experienced two major breaches affecting three billion accounts. Unlike the Equifax breach, where sensitive financial details were stolen, Yahoo’s breaches primarily involved email addresses and passwords.
Class Action Settlement Overview
Eligible users may receive a significant payout as part of a Class Action Settlement that California courts are currently reviewing. The settlement includes a fund of $117.5 million, which will either provide two years of credit monitoring for affected individuals or a cash payout for those who can confirm they have their own monitoring service in place. If you can prove you’re using a credit monitoring service for at least another year, you could file a claim for $100. If fewer people file claims, the payout could potentially increase to around $353.
Moreover, additional compensation will be available for those who can demonstrate out-of-pocket expenses related to the breach, including time lost, as well as for Yahoo users who subscribed to premium or ad-free services, with compensation potentially reaching up to $25,000.
Eligibility Criteria
To qualify for the settlement, you must meet the following criteria:
- You had a Yahoo account between January 1, 2012, and December 31, 2016.
- You received a notification about the breaches.
- You reside in the United States or Israel.
How to File a Claim
Filing a claim is straightforward; visit Yahoodatabreachsettlement.com and select “FILE CLAIM.” You can choose from several forms depending on your situation. Be mindful that the deadline to submit your claim is July 20, 2020. Once you’ve completed the form, don’t expect to see your payout anytime soon. The approval process may take over a year, with the final fairness hearing set for April 2020, and payments likely being issued afterward.
Additionally, be prepared for the possibility that if the number of claims is high, your cash payout could be minimal. Before opting for a cash settlement, ensure you can provide proof of your credit monitoring service. Given the circumstances surrounding both the Yahoo and Equifax settlements, investing in credit monitoring is a prudent decision.
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Conclusion
In summary, if you were affected by Yahoo’s data breaches, you may qualify for a cash settlement or credit monitoring service. Ensure you file your claim by the deadline, but remember that the payout process may take time.