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Yahoo gets $35 million slap on wrist for failing to disclose colossal 2014 data breach
In an ongoing investigation by the Securities and Exchange Commission, Yahoo (now Altaba) has been fined $35 million for failing to report a known data breach in two straight years of SEC filings. Publicly traded companies in the United States are required by law to disclose any mishaps that may impact or have impacted its bottom line, giving stakeholders the chance to make informed decisions about their investments in the company. That’s exactly what Yahoo didn’t do when it learned in 2014 that Russian hackers made off with personal data belonging to almost all its users.
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