Following the news about the Yahoo data breach for $47 million, Ilia Kolochenko, CEO of web security company at High-Tech Bridge commented below.
Ilia Kolochenko, CEO at High-Tech Bridge:
“Class actions are known to provide their members with very modest compensation compared to individual lawsuits. The settlement (subject to approval by court) makes slightly above $10 per breached account – a scanty amount in the GDPR era. Should a similar data breach happen today with the same disclosure timeline and similar circumstances, the amount of settlement could be significantly higher. Therefore, I think this is a considerable legal victory for Yahoo’s legal team.”