San Diego, CA -- (SBWIRE) -- 03/20/2017 -- The Shareholders Foundation announces that a deadline is coming up on March 27, 2017 in the lawsuit filed for certain investors of Yahoo! Inc. (NASDAQ:YHOO) over alleged securities laws violations by Yahoo! Inc.
Investors who purchased shares of Yahoo! Inc. (NASDAQ:YHOO) have certain options and there are strict and short deadlines running. Deadline: March 27, 2017. NASDAQ:YHOO stockholders should contact the Shareholders Foundation at firstname.lastname@example.org or call 858-779-1554.
According to the complaint filed in the U.S. District Court for the Northern District of California the plaintiff alleges on behalf of certain purchasers of Yahoo! Inc. (NASDAQ:YHOO) that the defendants made false and/or misleading statements and/or failed to disclose that Yahoo! Inc failed to encrypt its users' personal information and/or failed to encrypt its users' personal data with an up-to-date and secure encryption scheme, that consequently, sensitive personal account information from more than 1 billion users was vulnerable to theft, that a data breach resulting in the theft of personal user data would foreseeably cause a significant drop in user engagement with Yahoo! Inc's websites and services, and that as a result, Yahoo! Inc 's public statements were materially false and misleading at all relevant times.
On September 22, 2016, Yahoo! Inc. revealed that a "recent investigation" confirmed that sensitive personal account information of at least 500 million account users "was stolen from the company's network in late 2014 by what it believes is a state-sponsored attack." Reportedly users' names, email addresses, phone numbers, dates of birth, hashed passwords, and in some encrypted or unencrypted security questions and answers were included in the data breach.
A class action lawsuit has been filed against Yahoo! Inc. regarding security breach affecting nearly 500 million users. The Complaint alleges that Yahoo's actions were reckless as they disregarded the safety and security of Yahoo users' personal information. The Complaint claims that Yahoo should be held responsible for their insufficiencies and the damages caused to its users. Unlike several other recent data breaches, Yahoo! Inc. has not offered users any assistance with identity theft protection, while Yahoo! Inc. users are now at a greater risk of having their identities stolen and must find their own way and pay to protect themselves.
On December 14, 2016, Yahoo! Inc. announced that it had uncovered a data breach, stating that data from more than 1 billion user accounts was compromised in August 2013.
Those who purchased shares of Yahoo! Inc. have certain options and should contact the Shareholders Foundation.
Shareholders Foundation, Inc.
3111 Camino Del Rio North - Suite 423
92108 San Diego